Paolo Ardoino, the Chief Technology Officer of Tether, shared an image of substantial industrial containers branded with the Tether Energy logo on August 24. The image triggered a wave of rumors and conjectures, which Ardoino addressed in a follow-up post on X on August 26.
Ardoino’s initial image incited speculation regarding the authenticity of the photo, leading some to question if it had been altered. To quell the rumors, Ardoino stated:
“Is the photo genuine? Yes.
Ardoino clarified that the photograph depicted one of the control rooms within one of Tether Energy’s numerous Bitcoin mining facilities that are “currently nearing completion” and set to commence operations shortly.
While the site is situated in Latin America, Ardoino opted not to disclose specific details “to prevent personnel harassment, a legitimate concern given the number of critics fixated on Tether.” It’s plausible that Ardoino was referring to Uruguay — the firm is establishing eco-friendly Bitcoin mining in Uruguay, as per a Tether announcement on May 30.
Ardoino clarified that the Tether Energy logo was indeed superimposed or edited onto the containers, as many had supposed. He elaborated on the company’s rationale behind this decision:
“We believed the photo would make it into newspapers, so the team aimed to brand it. And indeed, this is exactly what transpired. Furthermore, placing enormous Tether logos would not be ideal from the standpoint of the site’s physical privacy.”
Ardoino attempted to reassure X users that despite the logo being digitally edited, the initiative is authentic. Sharing a 3D representation of the mining facility under construction, Ardoino remarked:
“Does the [editing] make it any less authentic? No. It’s truly happening. The site is advancing well, and the entire team is incredibly enthusiastic and working tirelessly to initiate operations in the upcoming weeks.”
What is Tether Energy?
Tether Energy, initiated by Tether, which issues USDT — the foremost stablecoin by market capitalization, aims to establish sustainable Bitcoin mining centers powered by renewable energy. Tether Energy collaborates with local enterprises, offering capital, infrastructure assistance, and overall expertise to develop these mining locations, as noted by Ardoino.
Tether Energy is selecting partners with “solid local connections, exceptional and fervent personnel,” and those who exhibit a “deep respect for nature.” He further added:
“At Tether, we are convinced that #bitcoin mining must be as geographically decentralized as feasible, aiming to diminish the present significant concentration in particular countries.”
Currently, a significant portion of Bitcoin mining is concentrated in the U.S. Bitcoin mining is a power-intensive operation, responsible for around 60-77% of the global electricity consumption attributed to cryptocurrencies.
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