Saturday, February 24, 2024
Blockchain

Tether’s Bitcoin Mining Site in Latin America Plans to Start Operations in a Few Weeks

In response to growing speculation surrounding a recently posted photo, Paolo Ardoino, CTO of Tether and Bitfinex, took to Twitter to clarify matters. The image in question showcased a container bearing the “Tether Energy” logo, leading to a myriad of questions and theories. Some tabloids questioned the site’s authenticity, while others speculated if Ardoino had digitally superimposed the logo onto the container.

Ardoino confirmed the photo’s authenticity, revealing it as a depiction of one of the control rooms at a site nearing its completion phase in Latin America. The exact location remains undisclosed to safeguard personnel from potential harassment, especially given the heightened scrutiny Tether often finds itself under.

Tether Energy (TE) represents a new venture by Tether, aiming to establish global partnerships with local entities. The primary objective of these collaborations is to provide capital, infrastructure support, development, and expertise, all in a bid to set up renewable energy production and Bitcoin mining sites. Ardoino stressed the significance of decentralizing Bitcoin mining geographically to counteract the current concentration in specific regions.

Addressing the logo’s placement on the container, Ardoino explained that the team had anticipated the photo’s widespread media coverage and wanted to brand it for that purpose. However, he also noted that using oversized Tether logos could potentially compromise the site’s physical privacy.

Ardoino’s tweet further highlighted the site’s ongoing progress, with the team gearing up to kickstart operations in the upcoming weeks. He also shared a 3D design of the mining site, offering followers an insight into its projected appearance in the near future.

Image source: Shutterstock

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