Tether Abandons $120 Million Bitcoin Mining Project in Uruguay Due to Power Dispute
Tether has officially abandoned its $120 million Bitcoin mining project in Uruguay following a dispute with the state utility UTE over electricity supply. The conflict arose after Tether representatives failed to attend the signing of a revised power contract, leading to the shutdown of two mining facilities. This marks a significant setback for Tether's expansion plans in the region.
Reports behind this story
Articles and publisher reports that informed this story.
Tether’s $120 million Uruguay bitcoin mining project collapsed over a power contract dispute: Reuters
UTE cut power to Tether's mining sites in July 2025 after Tether representatives did not attend the signing of a revised contract, per the report.
Tether abandons $120M Uruguay Bitcoin mining project after power dispute
Tether’s planned Bitcoin mining expansion in Uruguay has collapsed after an electricity supply dispute with state utility UTE left two facilities without enough power, ending a project estimated to have cost around $120 million. Reuters has reported that Tether abandoned…