Tether Collaborates with Sustainability Leader Adecoagro on a Project for Renewable Bitcoin Mining Power Source
In a groundbreaking move, Tether, the company behind the USDT stablecoin, and Adecoagro, a leading South American sustainable production firm, have announced a partnership to explore Bitcoin mining using renewable energy[1]. The collaboration aims to leverage Adecoagro's surplus renewable energy assets to power Bitcoin mining operations, promoting sustainability and boosting Brazil's digital economy[1][2][4].
Adecoagro currently boasts over 230 MW of renewable electrical generation capacity across South America, which will be utilised for the mining operation[1]. The project will employ Tether's proprietary Mining OS software for site management, with plans to open-source the software in the coming months[1][2].
For Adecoagro, Bitcoin mining represents an alternative demand to monetise surplus energy and the company plans to add Bitcoin exposure to its corporate balance sheet[1][4]. The partnership is positioned as a pioneering effort at the intersection of agriculture, renewable energy, and technology, with the goal of stabilising energy pricing and promoting financial inclusion through blockchain technology[1][2][4].
Tether's CEO, Paolo Ardoino, has highlighted this as part of a long-term sustainable mining strategy, supporting resilient energy infrastructure and decentralized networks[2][4]. The initiative aligns with Adecoagro's commitment to sustainability and positions both companies as trailblazers in responsible innovation[1][2][4].
The project is expected to serve as a model for responsible innovation by integrating renewable energy and digital infrastructure, potentially influencing the broader crypto and energy sectors[2][4]. No specific financial terms or investment amounts have been disclosed yet, but the partnership signals growing institutional interest in combining renewable energy with cryptocurrency mining as a sustainable and economically viable approach[2].
In other news, Nexo has become the first-ever digital asset and wealth partner of the DP World Tour, launching the Nexo Golf Championship. Meanwhile, Cooking.City is bringing back value redistribution to Solana with its Fair Launches. P2P.org has introduced native ETH staking to Ledger Live globally, and The Open Platform has reached unicorn status in the Web 3.0 ecosystem, with a $1 billion valuation[3].
The total market capitalization of cryptocurrencies is currently $107,717.86, with a 1.36% increase in the last 24 hours. Notably, the price of Bitcoin has increased by 2.503.41% in the same period[3]. The price of Ethereum has also risen by 2.72% in the last 24 hours[3].
[1] https://www.coindesk.com/business/2022/03/31/tether-and-adecoagro-to-collaborate-on-renewable-energy-bitcoin-mining-project-in-brazil/ [2] https://www.coindesk.com/business/2022/03/31/bitcoin-mining-meets-renewable-energy-in-brazil-as-tether-and-adecoagro-join-forces/ [3] https://coinmarketcap.com/ [4] https://www.cryptoglobe.com/latest/2022/03/tether-and-adecoagro-to-collaborate-on-renewable-energy-bitcoin-mining-project-in-brazil/
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- The partnership between Tether and Adecoagro will leverage Adecoagro's renewable energy assets to power Bitcoin mining operations, aiming to promote sustainability and boost Brazil's digital economy.
- Tether's proprietary Mining OS software will be employed for site management in the collaboration, with plans to open-source the software in the coming months.
- Adecoagro views Bitcoin mining as an alternative demand to monetize surplus energy, and plans to add Bitcoin exposure to its corporate balance sheet.
- The initiative represents a sustainable and economically viable approach to cryptocurrency mining, aligning with Adecoagro's commitment to sustainability and positioning both companies as trailblazers in responsible innovation.
- The collaborative project will serve as a model for the broader crypto and energy sectors, potentially influencing the industry to adopt renewable energy for cryptocurrency mining.
