סטאַבלעקאָין ריז Tether צו מיינינג ביטקאָין אין אורוגוויי ניצן רינואַבאַלז

Cryptocurrency giant Tether is setting up a ביטקאָין mining operation in Uruguay using renewable energy, as the company looks to diversify the revenue mix to support its USDT סטאַבעלקאָין.

The company said Tuesday that it plans to invest its resources into renewable energy production, marking its first foray into the energy sector.

Tether is also on the hunt for “experts in the area” to support its expansion into the renewable energy space, it said. Mining bitcoin is notoriously power-intensive, relying on a distributed network of computers around the world to verify that transactions are legitimate and release new coins into circulation.

“By harnessing the power of Bitcoin and Uruguay’s renewable energy capabilities, Tether is leading the way in sustainable and responsible Bitcoin mining,” said Paolo Ardoino, CTO of Tether.

"אונדזער אַנווייווערינג היסכייַוועס צו רינואַבאַל ענערגיע ינשורז אַז יעדער ביטקאָין מיר מייַן לאָזן אַ מינימאַל עקאַלאַדזשיקאַל שפּור בשעת אַפּכאָולד די זיכערהייט און אָרנטלעכקייַט פון די ביטקאָין נעץ."

Earlier this month, Tether said it would shift its treasury management strategy to start investing a portion of its net profit in bitcoin.

The company committed to use up to 15% of its net profit to purchase bitcoin, mimicking similar strategies from businesses such as טעסלאַ און מיקראָססטראַטעגי.

Tether issues what is known as a stablecoin. This is a token that, unlike bitcoin and other cryptocurrencies, is meant to hold a stable value at all times.

USDT is the largest stablecoin in the market, with a circulating supply of more than $83.2 billion, according to CoinGecko data. It competes with Circle’s USD Coin and Binance’s BUSD.

Stablecoins are used by traders to move in and out of different cryptocurrencies without converting money back into fiat currencies.

Tether says that each of its USDT tokens in circulation are backed 1-to-1 by an equivalent amount of U.S.-denominated assets held in reserve.

The company has gotten into hot water in the past, as regulators and economists have questioned the integrity of the assets backing its token.

Tether previously held most of its assets in commercial paper, a less liquid form of a corporate debt. It has more recently replaced all of its commercial paper with U.S. Treasurys.

Uruguay is seen as a leader in renewable energy production, sourcing more than 98% of its electricity output from renewables, primarily wind and hydropower, according to the U.S. International Trade Administration.

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