Adecoagro, a Tether-owned agricultural company managing over 500,000 hectares across Latin America, announced the launch of a sugarcane-powered bitcoin mining farm in Mato Grosso do Sul, Brazil, with operations set to begin July 1st. Project manager Matheus Lechuga presented the initiative as part of the company's "Roots of the Future" agenda, stating the project aims to achieve energy efficiency by powering 1,280 mining rigs with 10 megawatts of clean energy derived from sugarcane. The initiative follows a broader industry trend of mining companies migrating to cheaper, greener power sources to maintain economic viability while reducing environmental impact.
Adecoagro Targets 10 MW Capacity for 1,280 Bitcoin Mining Rigs
Matheus Lechuga, project manager at Adecoagro, stated during the "Roots of the Future" presentation: "Our data center project aims to validate our entire structure and try to apply new technological developments. Today, the project focuses on a structure geared towards Bitcoin mining, using clean energy from sugarcane." Lechuga confirmed the project will generate 10 MW to power 1,280 mining rigs, with July 1st as the launch date. He emphasized, "The project's goal is to achieve energy efficiency."
The operation utilizes bagasse, a byproduct of the sugarcane refining process, as biofuel due to its high fibrous content. According to the source, burning sugarcane releases less carbon dioxide into the atmosphere than the carbon absorbed by the plant when grown, making the entire cycle carbon-neutral at worst.
Tether Acquired Adecoagro Through $600 Million All-Cash Deal
Tether took over Adecoagro after making a $600 million all-cash offer, becoming the majority stakeholder. The two companies signed a memorandum of understanding (MoU) in July to explore bitcoin mining collaborations. Adecoagro operates in Brazil, Argentina, and other Latin American countries, managing agricultural operations across more than 500,000 hectares of land. The sugarcane-powered mining farm represents the first initiative combining Tether's digital operations with Adecoagro's agricultural infrastructure.
FAQ
What is Adecoagro launching in Brazil?
Adecoagro is launching a bitcoin mining farm in Mato Grosso do Sul, Brazil, powered by clean energy derived from sugarcane. The facility will generate 10 megawatts to power 1,280 mining rigs, with operations beginning July 1st.
How did Tether acquire Adecoagro?
Tether acquired majority control of Adecoagro through a $600 million all-cash offer, becoming the majority stakeholder. The two companies signed a memorandum of understanding in July to explore bitcoin mining collaborations using renewable energy sources.
