Tether has decided to mine bitcoin
Tether, the issuer of the leading stablecoin USDT, has decided to mine Bitcoin in Uruguay
The issuer of the leading USDT stablecoin has chosen Uruguay to mine the cryptocurrency
Tether has decided to get into bitcoin mining and announced that it is investing in green power generation and launching bitcoin mining in Uruguay with that energy. As part of the project, the issuer of the leading stablecoin USDT is partnering with a local licensed company.
Tether has thus expanded its scope to include energy and mining. The statement says that the company's goal is to become a global technology leader and this investment demonstrates Tether's "commitment to innovation in energy and the future of cryptocurrency."
The company said it chose Uruguay, which is rich in natural resources because the country offers ideal conditions for renewable energy production - creating wind farms, solar parks, and hydropower projects. 94% of the country's electricity production comes from renewable energy sources, making it a world leader in this field.
The USDT token issued by Tether has been the largest stackable coin by market capitalization for many years and the third-largest among all cryptocurrencies after Bitcoin and Ethereum. According to CoinGecko, as of May 30, USDT has a capitalization of $83 billion and a daily trading volume of $13.5 billion.
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