Tether and Adecoagro Launch Renewable-Powered Bitcoin Mining in Brazil

Tether Holdings has signed a Memorandum of Understanding (MoU) to launch a bitcoin mining pilot project in Brazil. The agreement was signed with Adecoagro S.A. (NYSE: AGRO), a leading sustainable agriculture and energy company in South America.

Announced on July 3, 2025, the initiative leverages Adecoagro’s 230 megawatts of renewable energy capacity across Brazil, Argentina, and Uruguay to power bitcoin mining, aiming to monetize surplus energy and enhance financial diversification.

Tether CEO Paolo Ardoino emphasized the strategic alignment of the partnership: “As part of our long-term strategy to support resilient energy infrastructure and decentralized networks, we’re proud to collaborate with Adecoagro. This project is another step in our growing commitment to renewable-powered bitcoin mining and highlights the potential to align agricultural energy production with cutting-edge digital infrastructure”.

Operational Framework and Synergies

The pilot project will harness surplus renewable energy from Adecoagro’s agricultural and industrial operations. Instead of selling this excess power on volatile spot markets, the energy will be redirected to bitcoin mining. Tether will manage the operations using its proprietary Tether Mining OS, which it plans to open-source soon to promote transparency and broader adoption.

This initiative follows Tether’s acquisition of a 70% stake in Adecoagro in May 2025, allowing for close integration between energy production and digital infrastructure.

Mariano Bosch, Co-Founder and Chief Executive Officer of Adecoagro, emphasized the project’s innovative approach: “We’re excited to explore innovative ways to maximize the value of our renewable energy assets. This project opens the door to stabilizing a portion of the energy we currently sell on the spot market, locking in pricing, while also gaining exposure to the upside potential of bitcoin”.

Adecoagro plans to incorporate bitcoin into its balance sheet, viewing it as a long-term value store similar to its 210,400 hectares of farmland across South America.

South America’s Emerging Role in Crypto Mining

South America is emerging as a hub for sustainable bitcoin mining, thanks to its abundance of renewable energy sources such as hydropower and sugarcane bioenergy. Many regions in Brazil and Paraguay often generate more electricity than they consume, especially during peak seasons.

To make better use of this surplus, energy producers are increasingly turning to crypto mining infrastructure as a way to stabilize grids and unlock new revenue streams.

Tether’s existing mining operations in Uruguay and Paraguay, supported by over $2 billion in energy and mining infrastructure investments since 2023, position it to lead this trend. The company holds more than 100,000 bitcoins, valued at over $10 billion, and, as announced at the 2025 Bitcoin Conference, aims to become the world’s largest bitcoin miner by the end of 2025.

Bitcoin Adoption and Project Potential

This collaboration reflects a broader trend of companies adopting bitcoin as a treasury asset. Institutional demand — driven by ETFs and firms like Strategy (Nasdaq: MSTR) — has significantly increased bitcoin accumulation.

By mining bitcoin and adding it to its balance sheet, Adecoagro aims to hedge against energy market volatility while capturing potential upside from bitcoin’s long-term value appreciation.

The pilot project offers a model for renewable-powered bitcoin mining, with Tether’s open-source Mining OS enabling broader adoption in regions with surplus clean energy. Both companies will provide updates on the project’s progress.