The technical director of Tether dispelled rumors around the photo of the container with the logo "Tether Energy"
Date: 2023-08-27 Author: Karina Ziganova Categories: IN WORLD
Paolo Ardoino, CTO of Tether, posted a photo of large industrial containers with the Tether Energy logo on August 24. The photo sparked a flurry of rumors and speculation, which Ardoino spoke about in a separate post on X August 26.
Ardoino's original photograph sparked speculation as to whether the image was photoshopped, casting doubt on its authenticity. To dispel the rumors, Ardoino wrote:
"Is the photo real? Yes".
Ardoino explained that the original image shows one of the control rooms at one of Tether Energy's many bitcoin mining sites that are "currently being finalized" and will be up and running soon.
The site is located in Latin America, although Ardoino declined to provide specific information "to avoid harassment of staff, which is a major concern given the number of detractors obsessed with Tether." It's possible that Ardoino was talking about Uruguay - the company is building sustainable bitcoin mining in Uruguay, according to Tether's May 30 announcement.
Ardoino clarified that the "Tether Energy" logo was indeed superimposed or photoshopped onto the containers, as many assumed. Explaining the reason behind the company's move, Ardoino wrote:
“We thought the photo would be published in newspapers, so the team wanted to brand it. And in fact, that is exactly what happened. Moreover, posting giant Tether logos would not be very good in terms of the physical privacy of the site.”
Ardoino tried to reassure X users that even though the logo was photoshopped, the project is real. Sharing a 3D model of a mining site under construction, Ardoino noted:
“So does it [photoshop] make it less real? No. This is really happening. The site is progressing well, everyone on the team is very excited and are working around the clock to get things up and running in the next few weeks.”
What is Tether Energy?
Tether Energy was launched by Tether, which mints USDT, the largest stablecoin by market capitalization, to create sustainable bitcoin mining hubs powered by renewable energy. Tether Energy is partnering with local companies to provide capital and infrastructure support, as well as shared expertise, to build these mining sites, Ardoino said.
Tether Energy selects partners with "strong local connections, outstanding and passionate staff" and those who "deeply respect the environment". He added:
“At Tether, we believe that #bitcoin mining should be as geographically decentralized as possible, in order to reduce the current concentration in specific countries.”
Currently, the bulk of bitcoin mining is concentrated in the United States. Bitcoin mining is an energy-intensive process, accounting for about 60-77% of the world's electricity consumption by cryptocurrencies.
