Tether-backed Adecoagro begins Bitcoin mining on sugarcane in Brazil

The South American agricultural company Adecoagro, in which Tether is a major shareholder, is preparing a Bitcoin mining project in Brazil. The energy comes from an unexpected source: burning sugarcane residue. The project is taking place in Ivinhema, in the Brazilian state of Mato Grosso do Sul, and is scheduled to go live around 1 July 2026.

Bitcoin is available at Bitvavo and Bybit.

Clean energy from sugarcane

The project’s setup is relatively modest but promising. Adecoagro is initially deploying 10 megawatts of capacity, linked to 1,280 Bitcoin mining machines. The power comes from burning sugarcane residue, a form of green energy already widely used in Brazil’s agricultural sector.

Matheus Lechuga, project manager at Adecoagro, explains the objective:

“Our data centre project aims to validate our entire infrastructure and apply new technological developments. The project focuses on Bitcoin mining with clean energy from sugarcane. We strive for energy efficiency.”

“Our data centre project aims to validate our entire infrastructure and apply new technological developments. The project focuses on Bitcoin mining with clean energy from sugarcane. We strive for energy efficiency.”

The operational start date is scheduled for approximately 1 July 2026.

Tether as a major driving force behind the project

Tether, the company behind the well-known stablecoin USDT, has long been active beyond the crypto market itself. As a major shareholder in Adecoagro, it plays a central role in this new mining venture. It is a logical step for Tether, which has previously invested in energy projects and mining activities worldwide.

The timing is notable: the Bitcoin price currently stands at $66K, a decline of 4% in the past 24 hours. Yet that does not appear to affect Adecoagro’s plans. With a focus on low energy costs from renewable sources, the company is positioning itself for the long term. Earlier this week, it was already evident that long-term funds continue to buy Bitcoin despite the current market conditions, indicating that institutional interest in Bitcoin remains undiminished.