World’s largest stablecoin issuer, Tether has signed a memorandum Of Understanding (MoU) with a renowned sustainable production company in South America, Adecoargro to power Bitcoin mining. Tether confirmed the partnership in a blog post released on Thursday.
In the blog post, the stablecoin issuer described Bitcoin mining as an emerging powerful tool used to monetize surplus energy, strengthen grid stability, and support the growth of decentralized networks. In addition, the partnership also seeks to explore renewable energy assets to enhance the digital economy, fostering new efficiencies at the intersection of technology and infrastructure.
According to the agreement, the project will utilize the stablecoin issuer’s Mining OS for efficient site management. Meanwhile, It is important to note that Adecoagro currently has over 230 MW of electrical generation capacity from renewable sources across South America. Utilizing this capacity, this project presents a valuable opportunity for both parties to investigate bitcoin mining as a promising alternative demand. Similarly, this partnership also stand to benefit from the synergy between Tether’s strengths in the digital asset realm and Adecoagro’s extensive energy and industrial knowledge.
Adecoargro co-founder reacts to the partnership with Tether
Meanwhile, the co-founder and chief executive officer at Adecoagro, Mariano Bosch has reacted to the partnership with Tether. Bosch revealed his firm’s excitement to explore innovative ways to maximize the value of renewable energy assets. He noted that the project presents an opportunity to stabilize a segment of the energy they currently sell on the spot market by securing pricing, while also allowing them to benefit from the potential growth of Bitcoin.
The head of Business initiative at Tether and executive chairman of Adecoagro’s Board of Directors, Juan Sartori has also reacted to the development. Sartori highlighted the importance of the partnership, adding that it presents an exciting opportunity to explore the convergence of agriculture, energy, and technology. He added that the collaboration will also enhance efficiencies and diversify their energy strategy in a responsible and innovative way.
Read More: