Stablecoin company Tether signed a Memorandum of Understanding with agro-industrial company Adecoagro on Thursday, as per a company announcement. The joint partnership will give both companies the chance to explore the possibility of positive synergies between Adecoagro’s clean energy expertise and Tether’s knowledge of digital assets. The agreement is to focus on Bitcoin mining operations in South America through collaboration between the two companies.
Adecoagro is an established company with energy operations across South America, with 230 MW of electrical generation capacity in the region.
”Tether brings to the initiative its extensive experience in the bitcoin ecosystem, backed by a rapidly expanding portfolio of sustainable mining initiatives across multiple regions. As part of our long-term strategy to support resilient energy infrastructure and decentralized networks, we’re proud to collaborate with Adecoagro,” said Tether’s CEO, Paolo Ardoino
Source: Yahoo Finance
Adecoagro shares closed 1.85% higher on the day of the announcement at a price of $9.37. The company’s Q1 2025 earnings release noted $325.5 million in Revenue, $30 million in capital expenditure for new expansion projects, and a net income of $18.1 million.