🚨 TETHAR ABANDONS $120M BITCOIN MINING BET IN URUGUAY 🇺🇾⛏️
Tether has reportedly walked away from its Bitcoin mining operations in Uruguay after a prolonged dispute with state-owned utility UTE over electricity supply.
🔹 Estimated investment: ~$120 million
🔹 Mining sites: 2 in Uruguay
🔹 Main issue: Disagreement over electricity allocation
🔹 Shutdown: UTE cut power to the sites in July 2025
🔹 Aftermath: Tether ended local operations and laid off most staff
The project was launched in 2023, with Tether viewing Uruguay as a potential gateway for expanding Bitcoin mining across South America.
But the episode highlights a major challenge for large-scale BTC miners: cheap, reliable electricity is everything. ⚡
Despite the Uruguay setback, Tether continues investing in Bitcoin mining and energy infrastructure elsewhere.
#tetharusdt #UruguayCrypto #CryptoNews🚀🔥 #BitcoinNews #Mining
Tether has reportedly walked away from its Bitcoin mining operations in Uruguay after a prolonged dispute with state-owned utility UTE over electricity supply.
🔹 Estimated investment: ~$120 million
🔹 Mining sites: 2 in Uruguay
🔹 Main issue: Disagreement over electricity allocation
🔹 Shutdown: UTE cut power to the sites in July 2025
🔹 Aftermath: Tether ended local operations and laid off most staff
The project was launched in 2023, with Tether viewing Uruguay as a potential gateway for expanding Bitcoin mining across South America.
But the episode highlights a major challenge for large-scale BTC miners: cheap, reliable electricity is everything. ⚡
Despite the Uruguay setback, Tether continues investing in Bitcoin mining and energy infrastructure elsewhere.
#tetharusdt #UruguayCrypto #CryptoNews🚀🔥 #BitcoinNews #Mining
