Tether and Adecoagro Eye Renewable Bitcoin Mining Partnership
Tether, the company behind the USDT stablecoin, is stepping further into Bitcoin mining—this time with a focus on renewable energy. The firm announced a preliminary agreement with Adecoagro S.A., a major South American agricultural and energy producer, to explore mining operations powered by excess green energy. The deal, outlined in a July 3 statement, could reshape how both companies think about energy use and digital assets.
Adecoagro already generates over 230 megawatts of renewable power, mostly from biomass and hydro sources. Right now, much of that energy gets sold on the spot market, where prices can swing unpredictably. Bitcoin mining, with its constant demand for electricity, might offer a steadier way to monetize that surplus.
Balancing Energy and Bitcoin
Mariano Bosch, Adecoagro’s CEO, framed the move as a hedge. “This could stabilize some of our energy revenue,” he said, “while also giving us a shot at Bitcoin’s upside.” The company isn’t diving in headfirst, though. The plan seems cautious—testing the waters with mining while keeping farmland and other traditional assets as core holdings.
For Tether, the deal fits into a bigger push toward sustainable mining. The pilot will run on their proprietary Mining OS, a system they’ve hinted might go open-source later this year. Paolo Ardoino, Tether’s CEO, pitched the collaboration as a way to “tie agriculture, energy, and tech together”—though whether it actually reduces Bitcoin’s environmental footprint remains to be seen.
More Than Just Mining
This isn’t just about plugging in some rigs and calling it a day. The two firms are also discussing a separate deal where Tether could buy up to 70% of Adecoagro’s shares. That suggests a longer-term play, possibly blending physical infrastructure with blockchain-based finance.
It’s also part of Tether’s awkward, ongoing shift away from being just a stablecoin issuer. USDT still dominates the market with over $158 billion in circulation, but the company’s been dabbling in AI, education, and now mining—maybe to avoid regulatory headaches, maybe just to chase new revenue. Either way, their strategy feels scattered at times.
Still, the Adecoagro partnership makes some sense. If Bitcoin mining can soak up excess renewable energy without wrecking the economics, it might offer a template for others. Then again, crypto’s history is full of big ideas that fizzled. For now, this one’s just getting started.
