Tether CTO Confirms Controversial Tether Energy Milestone

Tether Chief Technology Officer Paolo Ardoino has highlighted the fact that a lot of speculations have emerged following a post that he made concerning the firm’s energy outfit. 

The said post saw Ardoino share a picture of a container with the inscription “Tether Energy” and its logo. 

Speculations Around Tether Energy

This post has triggered speculations in the minds of many netizens and Tether community members. It has forced many tabloids to ask questions like “Is the site real?”, Did Paolo really photoshopped the logo on a container and many more. In response to all of these questions, the Tether CTO has offered an explanation.

Four months ago, Tether, the protocol behind United States dollar-pegged stablecoin USDT announced its decision to invest in energy production and sustainable Bitcoin mining by launching Tether Energy in Uruguay. At the time, this was a major effort towards Bitcoin (BTC) as the company had earlier revealed plans to acquire BTC for stablecoin reserve.

Consequently, Tether collaborated with a local licensed company to commence the BTC mining activities. As part of the announcement, Ardoino noted that the mining operations will be carried out while leveraging cutting-edge technologies, sustainable practices as well as financial innovation. The focus is to utilize renewable energy sources to minimize the carbon footprint of mining in addition to generally preserving and sustaining the environment.

Tether chose Uruguay due to the existing infrastructure for renewable energy in the country. A very significant amount of the energy utilized in the South American nation is from renewable sources owing to the abundance of natural resources in the region. 

Tether Energy is Coming to Latin America

Since Tether Energy launched in May, the company has been pursuing partnerships with entities that have “solid local connections, outstanding and passionate personnel and that demonstrate deep respect for the environment,” per Ardoino’s explanation. 

Furthermore, he clarified that the controversial photo is real and it shows one of the control rooms which is still being worked on but is billed to commence operations soon in Latin America. 

The Tether CTO did not give out any other details about the specific location of the site, instead he shared a 3D clip to help emphasize his claim.