Tether signed a Memorandum of Understanding (Mou) with ADECOAGRO, a renewable energy company in Brazil. The two companies plan to explore the validity of mining in the power generation infrastructure in advance.
The Memorandum of Understanding does not include fixed investment obligations from either party, and Tether appears mainly to provide software and experience. However, it can provide valuable information about new expansion areas.
Mining ambitions in Tether
Tether, the world’s largest stablecoin source, has already participated in the field of Bitcoin mining for several years. In fact, new obligations to the sector have been committed to earlier this year, and even last week.
However, the company’s new partnership with ADECOAGRO in Brazil is an important expansion in this strategy.
According to the company’s press statement, Tether has not made a strong commitment to investing a specific amount in Brazilian encryption mining.
So far, he has only signed a Memorandum of Understanding (Mou), pledging to explore the authority to mining renewable energy. This includes installing power generation in Adecoagro and may increase its exposure to encryption.
“We are excited to explore innovative ways to increase the value of our renewable energy assets. This project opens the door to install a portion of the energy that we currently sell in the immediate market, and closes pricing, while increasing the biocoin oud capabilities,” Mariano Bush, co -founder and CEO of Adecoagro.
ADECOAGRO currently has more than 230 MW of electrical generation, and Bitcoin can help it convert surplus power into weary assets.
Many sites will use the Tether mining operating system to manage these operations. Currently, Tether seems to look at this as an educational opportunity, which is a useful test to integrate encryption with pre -existing infrastructure.
These experiments can help overcome the besieged mining industry under pressure from many geopolitical concerns. However, Brazil is an interesting option for this partnership.
Although the nation is a friend of encryption, it has recently increased encryption taxes and may impose additional fees and mining restrictions.
At the present time, this is just an experience. Tether is investing in many new commercial projects in addition to American organizational compliance efforts.
The company has not yet committed many financial resources to ADECOAGRO and may not directly reap profits. New research may be simply completed Tether’s long -term goals in the mining sector.
The post Tether is the Bitcoin mining industry in Brazil first appeared on Beincrypto.
Source: https://beincrypto.com/tther- mining-brazil-decoagro-experment/