Tether invested in the Salvador mining startup – Bits Media

The Tether Stebbleco -issuer supported the VOLCANO ENERGY startup, which is going to create an environmentally friendly farm for bitcoins in Salvador.

Technical Director Tether Paolo Ardoino (Paolo Ardoino) reported, that the company took part in co -financing activities Salvador startup Max Kaiser (Max Keiser) Volcano Energy. Startup builds mining capacities, which are going to use the energy of local thermal sources.

Tether noted, that the source of investment was income from the operating activities of the company, not reserve assets.

“Tether investment in Volcano Energy is limited and is within our own excess reserves. USDT stabilcoin insurance reserves are not affected ", -assured the top manager.

Volcano Energy does not disclose the exact amount of investment, Transferred Tether for the development of the project, But reports, that in total in the first round of financing, the startup attracted about $250 million. Volcano Energy plans to attract international investments for the construction of a mining site totaling $1 billion.

At the end of May, Tether announced plans to provide financial resources of a licensed company on the territory of Uruguay to create sources of renewable energy and infrastructure of mining bitcoins with zero carbon emission.