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Tether, the issuer of the popular stablecoin, has entered the realm of Bitcoin mining, as per a press release on May 30. 





The company revealed that it has allocated resources towards energy production and has established a partnership with an undisclosed licensed local firm 




Tether, the leading global stablecoin, has been generating significant buzz with its growing interest in Bitcoin. Recently, the stablecoin issuer unveiled its $1.5 billion Bitcoin reserve and announced plans to allocate a portion of its profits to acquire the flagship cryptocurrency.



In another pro-Bitcoin initiative, Tether has now disclosed its intentions to commence Bitcoin mining operations in Uruguay.



In a cooperation with an unidentified “local licenced company,” the company will launch operations in Uruguay, it was revealed Tuesday. Regarding the brand of the regional business, Tether declined to comment.



In order to do this, Tether has made the decision to invest in “renewable energy sources to support and promote sustainable Bitcoin mining.”




At Tether, we understand the importance of energy in driving progress & enabling thriving communities. That's why we're dedicated to harnessing the power of renewable energy to mine #Bitcoin , the world's most open & secure monetary network. Learn More