Bitcoin Forum

We are proud to help power the future of finance with green energy! Our Tether mining sites harness renewable resources to secure the #Bitcoin network
https://twitter.com/Tether_to/status/1762864957241049331

Uruguay stands out as the perfect location for our Bitcoin mining operations. This remarkable South American nation boasts a significant advantage when it comes to sustainable and green energy sources. In fact, an impressive majority of Uruguay's energy production comes from renewable sources, making it an ideal environment for our energy-intensive operations.
https://tether.recruitee.com/energy

Who knows what this company does at night when there is not enough power for mining equipment?

Uruguay gets most of it's electricity from hydro, it's an exporter but overall it's a small nation, their production capacity for example is under Iceland and just below Sri Lanka.
With a total capacity of 3.5GW available don't expect tether to move hundreds of MW of machines there, from what they've released till now it's a 40MW plant expected to reach full capacity by 2025, so 10k machines at most, 2exahash, 0.3% of the current hashrate.

It appears that Uruguay has four hydroelectric power plants that have a generating capacity of about 1.5 gigawatts. The country  claims that 98% of its energy comes from renewable sources, so this type of claim is useful for those in public relations campaigns, not for those who want to continue making a profit from Bitcoin mining. .

https://www.trade.gov/country-commercial-guides/uruguay-renewable-energy-equipment

Average electricity prices seem low but I don't know if they would get it at those prices.

https://talkimg.com/images/2024/03/08/yVUSv.png (https://www.statista.com/statistics/1123802/household-electricity-price-latin-america-country/#:~:text=Honduras%20and%20Uruguay%20also%20recorded,U.S.%20dollars%20per%20kilowatt-hour)

Those are average household prices, nobody mines on the average for their country.
The same site says 15 cents for the US:
https://www.statista.com/statistics/200199/residential-sector-electricity-prices-in-the-us-since-1975/

But Riot mines at:
https://www.sec.gov/Archives/edgar/data/1167419/000107997321000537/ex99x1.htm

Hut 8 at:
https://hut8.com/wp-content/uploads/2021/08/Q1-2021-MDA.pdf

Average prices mean nothing, just how that so called cost per bitcoin by country graphic was highly misleading.

I think that hydroelectricity has always been cheaper than solar and wind electricity. If the company takes the night power and increases the efficiency of the hydroelectric power plant, then this is good for the electricity producer. But it seems to me that it is more profitable to buy a contract for a fixed 40 megawatts and mine coins.

I am new here but still think that solar electricity is far away from being very functional to many  changeble. I mean wind and sun is a weather and it does not mean that it will be active when you need it