Tether has announced its investment in energy production and sustainable Bitcoin mining through the launch of Tether Energy in Uruguay. Paolo Ardoino, the CTO of Tether, shared on Twitter today that Tether Energy aims to contribute technology and capital towards constructing renewable energy infrastructure and facilitating bitcoin mining.
Tether Energy: Sustainable Bitcoin Mining Operations
In a press release issued on May 30, Tether revealed its commitment to investing resources in energy production and initiating sustainable Bitcoin mining endeavors in Uruguay. Tether has formed a partnership with a licensed local company to establish the Bitcoin mining operations.
Paolo Ardoino, the CTO of Tether, emphasized the company’s dedication to leveraging advanced technology, sustainable methodologies, and financial innovation in order to conduct Bitcoin mining with renewable energy sources, thereby mitigating its environmental impact.
By harnessing the power of Bitcoin and Uruguay’s renewable energy capabilities, Tether is leading the way in sustainable and responsible Bitcoin mining.
Paolo Ardoino
Tether acknowledges the crucial role of energy in advancing society and fostering stronger communities. To support this, Tether will harness renewable energy sources for Bitcoin mining, which is recognized as the most transparent and secure financial network globally.
As part of its growth strategy, Tether is actively seeking to augment its workforce with professionals specializing in the energy sector. The company is presently recruiting for seven positions, which include roles such as site manager, IT technician, and mechanical technician.
Tether has chosen Uruguay as the location to initiate its bitcoin mining enterprise, primarily due to the country’s well-developed renewable energy infrastructure. With approximately 94% of electricity generation originating from renewable sources, Uruguay benefits from abundant natural resources and favorable conditions for producing renewable energy.
Additionally, Uruguay boasts a dependable electric grid system that aligns with Tether’s requirements for commencing Bitcoin mining operations, thereby ensuring optimal efficiency and sustainability.
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