Tether, the stablecoin USDT issuer, has invested in an energy-production and sustainable Bitcoin ( BTC ) mining facility in Uruguay. The company announced this Tuesday via a press-release.

According to the press release, the firm has partnered with “a local licensed company” and actively recruits, but did not reveal the amount of investment or partner firm.

A company spokesperson told CoinDesk that Tether anticipates the mining facility to start up by mid-Q3 of this year.

Tether announced plans in the beginning of this month, stating that a portion of its profits would be allocated to bitcoin investments. This included regular purchases of BTC as well as funding infrastructure. The company also revealed that it had made its first bitcoin purchase, stating that the cryptocurrency was worth $1.5 billion at the end of March.

In a press release, Tether’s Chief Technology Officer, Paolo Ardoino said: “By harnessing Bitcoin’s power and Uruguay’s renewable electricity capabilities, Tether leads the way for sustainable and responsible Bitcoin Mining.”

South America is seeing increased attention from overseas cryptocurrency investors. This includes bitcoin mining. The reason for this is the drying up of investment opportunities in North America. Paraguay Uruguay’s neighbor experienced an influx in miners who wanted to tap into the unused hydropower. This has caused a stir within that country’s energy and political systems.

Tether’s USDT has the largest capitalization on the market at $83 billion. The token’s assets include U.S. Government-issued bonds, gold, and secured loans made to unknown parties. The company has benefited from the rising yields in the last year and a half, which have contributed to the $1.5 billion net profit it will make for the first quarter 2023.

Stephen Alpher edited the book.

UPDATE (30 May 15:55: Adds the expected date of operation from Tether spokesperson.

UPDATE (30 May 13:55: Adds contextual information about South America.