Mentioned:
A publicly traded agriculture company in South America is getting into something new: Bitcoin mining. But, why?
What’s happening:
- Adecoagro (NYSE: AGRO) has officially partnered with Tether to explore ways to convert excess renewable energy into power for Bitcoin mining
Why it matters:
- Adecoagro is one of the largest agricultural operators in all of South America and this is the first time ever they have ventured into pursuing Bitcoin mining
Going deeper:
- The new joint venture between Adecoagro and Tether will leverage Tether’s proprietary Mining OS software platform which is purpose built for managing large scale Bitcoin mining operations
- Tether previously made waves in the public markets when they made a $100M USD strategic investment into Adecoagro
The intrigue:
- Adecoagro has more than 230 megawatts of electrical power from renewable energy sources throughout South America
