Tether intends to invest in green bitcoin mining in Uruguay
Major stabelcoin issuer Tether has announced plans to invest in mining facilities in South America's Uruguay.
Tether officials admitted that they plan to provide funding to a local licensed company to create renewable energy sources and infrastructure for zero-carbon bitcoin mining.
"Uruguay offers an ideal environment for renewable energy production by facilitating wind farms, solar parks and hydropower projects, guaranteeing miners a steady supply of clean energy," Tether said in the announcement.
Tether did not admit to the press which Uruguayan company partnered with the project.
Earlier, Tether management said that it intends to invest up to 15% of its net profits in bitcoins each month - in order to diversify its insurance reserves. According to reports, the company has already invested about $1.5 billion in BTC.
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