Tether invests in energy production in Uruguay to mine bitcoin
Tether, the world’s largest stablecoin, has announced that it’s investing in renewable energy production for bitcoin mining in Uruguay. The size of the investment and the “local licensed company” it’s partnering with were not revealed in the press release. Tether chief technology officer and face of the company Paolo Ardoino said, “Tether is proud to spearhead a movement that combines cutting-edge technology, sustainable practices, and financial innovation.” On its recruitment page for this project, Tether is advertising for talent in Uruguay, Spain, and Argentina and is looking specifically for recruiters, electricians, technicians, and managers. Uruguay is notable for the amount of its energy production that comes from renewable resources, with the International Trade Administration estimating the number at 98% . iFinex, one of the companies that operates Bitfinex, Tether ’s sister company, has previously invested in bitcoin min...