Tether is Entering the Bitcoin Mining Industry in Brazil

Tether signed a Memorandum of Understanding (MOU) with Adecoagro, a renewable energy firm in Brazil. The two companies plan to explore the viability of mining in a pre-existing 230 MW power generation infrastructure.

The MOU doesn’t involve firm investment commitments from either party, and Tether mainly seems to be providing software and expertise. Still, it could provide valuable information about new areas of expansion.

Tether’s Mining Ambitions

Tether, the world’s largest stablecoin issuer, has already been involved in the Bitcoin mining business for several years. As a matter of fact, it made fresh commitments to the sector earlier this year, and even within the last week.

Still, the firm’s new partnership with Adecoagro in Brazil represents an important expansion of this strategy.

Tether Bitcoin mining https://t.co/1jd8njCZZe

— Paolo Ardoino