U.Today - The issuer of the world's most popular USD-pegged stablecoin, USDT, shares the details of its unusual investing program. Starting from May 2023, Tether ecosystem will fuel energy production and Bitcoin (BTC) mining operations in Uruguay.
Tether (USDT) invests in sustainable crypto mining in Uruguay
According to the official shared by Tether Limited, it is beginning to invest in Bitcoin (BTC) mining operations. Uruguay was chosen as the first country in Tether's ambitious program. The exact amount of the investment is yet to be disclosed.Tether will keep its focus on sustainable Bitcoin (BTC) mining with minimal environmental footprint. Namely, in its Uruguay venue, Tether is going to support renewable energy sources. The program goes live as a part of collaboration with a local licensed company, the statement goes.
Paolo Ardoino, CTO of Tether, stressed the importance of this launch for the roadmap of Tether (USDT) and for the health of the global Bitcoin (BTC) mining segment:
As of 2023, Uruguay is among the leaders of "green energy" as it generates 94% of electricity from renewable sources - largely wind and solar power.
Tether (USDT) seeking energy experts to get the most out of mining
To bootstrap the progress of the new initiative, Tether (USDT) is actively seeking experts who are able to optimize its Bitcoin (BTC) mining operations in Uruguay.On a purpose-made website, the positions of recruitment specialists, electricians, technicians and site managers are available. Besides Uruguay, the team is seeking experts in Spain and Argentina.
Following the announcement, the Bitcoin (BTC) price briefly spiked to almost $28,000 but then came back to $27,800 again on major spot trading platforms.