PANews reported on July 3 that according to an official announcement, stablecoin issuer Tether signed a memorandum of understanding with South American agricultural energy company Adecoagro to cooperate in a renewable energy Bitcoin mining project in Brazil. Adecoagro currently operates 230 megawatts of renewable energy power generation facilities in South America, and the project will explore the feasibility of using surplus electricity for Bitcoin mining.

Tether's CEO said this is an extension of the company's sustainable mining strategy, which aims to promote the coordinated development of energy infrastructure and the digital economy. Adecoagro executives pointed out that Bitcoin may become a long-term value storage method similar to farmland assets, and the project will help the company access crypto assets in a controlled manner. Both parties will use the mine management system developed by Tether, and the relevant code will be open source within a few months.