Tether, the big stablecoin company, and Adecoagro, a South American farming giant, are teaming up to mine Bitcoin using clean energy. Adecoagro will dedicate some of its renewable energy (230 megawatts!) to power Bitcoin mining operations.
A Win-Win Situation?
This is a smart move for both companies. Adecoagro gets a guaranteed buyer for its excess renewable energy, smoothing out their income. Tether gets a new, environmentally friendly source for Bitcoin mining. When the sun shines extra bright or the wind blows strong, instead of wasting the extra power, they’ll use it to mine Bitcoin. If the price of Bitcoin goes up, this could be very profitable for Adecoagro.
Tether’s Open-Source Mining Software
Tether isn’t just providing funding; they’re also managing the mining hardware using their own software, Tether Mining OS. They plan to make this software open-source, allowing others to use and improve it. This transparency aims to show that crypto mining can be environmentally responsible.
Transparency and Oversight
Because one person, Juan Sartori, holds important positions in both companies, an independent committee reviewed the deal to ensure fairness. This extra step protects against conflicts of interest and keeps investors happy.
Expanding Green Mining
For Adecoagro, this is a great way to make money from excess energy. They could potentially use dozens of megawatts for mining without impacting their other operations. Tether sees this as a model for the future: using cheap, green energy and smart software to mine Bitcoin sustainably. This partnership expands Tether’s green mining efforts into South America, adding to their existing projects in North America and Europe.
