Tether Goes Green with Bitcoin Mining in Uruguay.

Tether, the largest stablecoin in the market, is diversifying its revenue mix by setting up a bitcoin mining operation in Uruguay using renewable energy. The company plans to invest its resources into renewable energy production and is on the hunt for experts in the area to support its expansion. Tether has committed to using up to 15% of its net profit to purchase bitcoin and each of its USDT tokens in circulation are backed 1-to-1 by an equivalent amount of U.S.-denominated assets held in reserve. Uruguay is seen as a leader in renewable energy production, sourcing more than 98% of its electricity output from renewables, primarily wind and hydropower.