Tether, the digital asset company behind the world’s largest stablecoin USDT USDT, is exploring renewable energy-powered bitcoin BTC mining with South American agribusiness firm Adecoagro (AGRO) in Brazil.
The firms have signed a strategic partnership for a pilot project to use Adecoagro’s surplus energy to operate mining facilities and may also add BTC to Adecoagro’s balance sheet in the future, according to a Thursday press release.
Adecoagro, in which Tether acquired a 70% stake, has 230 megawatt in power generation capacity across South America. The company is a prominent food producer in the region and owns sugar mills, rice farms and dairy operations.
“This project opens the door to stabilizing a portion of the energy we currently sell on the spot market, locking in pricing, while also gaining exposure to the upside potential of bitcoin,” said Mariano Bosch, co-founder and CEO of Adecoagro.
The move underscores Tether’s growing ambition in bitcoin mining following its previous investments in mining facility in the region. The firm said it has developed an operating system software for miners called Tether Mining OS, with plans to make it open source in the next months.
CEO Paolo Ardoino said at the Bitcoin 2025 conference in May that Tether “will be the biggest bitcoin miner by the end of this year” and has invested $2 billion in energy production and mining operations.
Read more: NY Bankruptcy Judge Gives Celsius the Green Light to Pursue $4.3B Lawsuit Against Tether