Tether plans to collaborate with Adecoagro to further expand its Bitcoin mining business in South America.

According to The Block, Tether has signed a memorandum of understanding with the Brazilian renewable energy company Adecoagro to plan to use its excess energy to mine Bitcoin.

Stablecoin issuer Tether is expanding its Bitcoin mining operations and has announced the signing of a memorandum of understanding with Brazil-based renewable energy company Adecoagro to mine using the latter's excess power resources.

Adecoagro stated in a statement on Thursday: "In addition to monetizing the remaining energy, we also recognize that Bitcoin may become a long-term store of value asset, similar to the agricultural land we own. Therefore, we plan to gain strategic exposure to Bitcoin on our balance sheet through this mining project."

In May this year, Tether announced that it had acquired 70% of Adecoagro's equity. The company is engaged in agriculture and energy production in Latin America, with over 230 megawatts of renewable energy generation capacity.

Adecoagro CEO Mariano Bosch stated: "This project provides us with a stable opportunity to sell electricity in the spot market - at a fixed price, while gaining exposure to the future upside potential of Bitcoin."

Tether's diversification strategy continues to advance.

Since Paolo Ardoino took over as CEO from Chief Technology Officer in 2023, Tether has invested its profits on a large scale into multiple areas, including:

peer-to-peer communication technology,

Artificial Intelligence technology,

and the global Bitcoin mining network.

Currently, the USDT issued by Tether is the largest stablecoin in terms of global trading volume and market capitalization. According to data from the U.S. Treasury, approximately 81% of the 149 billion dollars in reserves held by Tether are U.S. Treasury bonds, making it one of the largest holders of U.S. debt, even larger than the UAE and Germany.

Tether launched mining projects in Uruguay and Paraguay as early as 2023, fully utilizing the abundant renewable energy resources in the region. In addition:

It also invested in El Salvador's volcanic mining project,

and hold shares in the mining companies Bitdeer and Northern Data,

It also supports the development of a Bitcoin Mining Operating System, used to modularly manage mining facilities.

Adecoagro's plan to introduce Bitcoin on its balance sheet aligns with the growing trend of more companies adopting Bitcoin as an asset reserve. For example, American Bitcoin, backed by the Trump family, has partnered with mining company Hut 8 to develop a plan to establish a Bitcoin reserve based on mining rewards.