Tether persists and signs – The issuing company of the stablecoin USDT has recently shown its willingness to bet also on Bitcoin (BTC). Indeed, after Tether revealed a few weeks ago that she would invest 15% of its income in bitcoinshere is that the crypto-company participates in a financing of$1 billion to develop green energy Salvadorand a sustainable crypto mining.
Tether wants to help build and produce renewable energy
Far from resting on the laurels of its stablecoin USDT – who is the only one to pull out of the game in a lackluster stablecoin market -, the society Tether has embarked, in recent months, on a diversification towards Bitcoin and thegreen energy.
We thus learned, less than a week ago, that its brand new subsidiary Tether Energy was going to produce bitcoins in Uruguayin a way durable, using renewable energy. Although the latter is already abundant in the South American country, Tether intends to help the development of new sources of energy such as wind et solar.
But today it’s Salvador that Tether announces to help. The USDT issuer thus participated in the first round of fundraising of a local energy production initiative. This funding totaled a billion dollarsto build « Volcano Energy » : a green energy production park.
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The future of Bitcoin is written in El Salvador, Volcano Energy for all!
These future energy infrastructures will be developed near the city of metapanin the region of Santa Ana. The project will combine 169 MW photovoltaic solar energy, and 72 MW of wind energy. That is a total production of 241 MW green energy.
These sustainable energy sources will provide computing power (hashrate) initial greater than 1.3 U/s (exahash per second) to a future farm of bitcoin mining. According to the technical director (CTO) of Tether, Paul Ardoino :
“Tether is expanding its energy investments, providing capital, technology expertise and advice to new venture Volcano Energy.
El Salvador’s potential as a global energy and bitcoin hub is immense, and we at Tether are grateful to be part of this opportunity.
Tether is diversifying its business lines by becoming a leader in energy and communications infrastructure, in addition to our core business with the USDT stablecoins. (…)”
As explained Joshua LopezCEO of Volcano Energy, 52 % bitcoin mining is already “made in a sustainable way”. But he believes that this percentage of green crypto mining “will increase significantly” In the coming years. More and more young innovative companies are specializing in the ecological mining of bitcoinseither by creating/financing new sources of renewable energy like here, or avoiding waste of energywhere there is overproduction.
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