Tether, the largest stabelcoin issuer, announced plans to invest in mining facilities in South American Uruguay.
Tether officials have 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 executives said they intend to invest up to 15% of their net income in bitcoin each month – in order to diversify their insurance reserves.
The company has reportedly already invested about $1.5 billion in BTC.