Tether Partners with Adecoagro for Renewable Bitcoin Mining

Tether, the world’s largest stablecoin issuer, has signed a Memorandum of Understanding (MOU) with Brazilian energy and agriculture firm Adecoagro to explore the potential for Bitcoin mining using renewable power. The collaboration aims to utilize Adecoagro’s surplus energy for Bitcoin mining operations, leveraging the firm’s extensive renewable energy capabilities.

Adecoagro, which operates across South America, produces over 230 megawatts of power from renewable sources. The firm sees this project as an opportunity to monetize surplus energy and gain strategic exposure to Bitcoin, recognizing its potential as a long-term value asset similar to its farmland holdings.

“In addition to monetizing surplus energy, Adecoagro recognizes that Bitcoin may become a new source of long-term value, like its farmland assets, and plans to use this mining project to initiate certain strategic exposure to Bitcoin in its balance sheet,” Adecoagro stated.

This initiative is part of Tether’s broader strategy to expand its portfolio of sustainable, infrastructure-backed investments. The move follows the appointment of Paolo Ardoino as CEO in 2023, under whom the company has pursued more aggressive investment in infrastructure tied to the broader crypto ecosystem.

Tether’s plans with Adecoagro include the use of Tether Mining OS, the company’s operating system for managing mining operations. The software is expected to be open-sourced in the coming months, further enhancing the operational efficiency and sustainability of the project.

“The design and operation of the project benefits from significant synergies between Adecoagro’s energy and industrial expertise and Tether’s capabilities in the digital asset space,” the company added in the press release.

Tether’s experience in the digital asset sector and growing mining footprint are expected to play a key role in making the partnership operationally efficient and aligned with long-term sustainability goals.

This collaboration marks Tether’s latest push into real-world assets and infrastructure, following its acquisition of a 70% stake in Adecoagro in May. The stablecoin issuer has been actively deploying its profits across various industries, including artificial intelligence, peer-to-peer communications, and Bitcoin mining.

“This project opens the door to stabilizing a portion of the energy we currently sell on the spot market, locking in pricing, while also gaining exposure to the upside potential of Bitcoin,” said CEO Mariano Bosch.

Tether’s CEO, Paolo Ardoino, expressed pride in the collaboration, stating, “We’re proud to collaborate with Adecoagro. This project is another step in our growing commitment to renewable-powered Bitcoin mining.”

Tether is focused on building robust energy infrastructure and supporting decentralized networks, both of which align with Adecoagro’s existing capabilities in renewable energy. The new facility will run on Tether Mining OS, further enhancing the operational efficiency and sustainability of the project.