Tether Abandons $120M Bitcoin Mining Project In Uruguay After Contract Dispute

CoinStats - Stablecoin Giant Tether Halts $120 Million Bi...

The project was cancelled due to a contract dispute between Tether and Uruguay's state-owned electricity company UTE. Continue Reading: Stablecoin Giant Tether Halts $120 Million Bitcoin Mining Project in Uruguay! Here Are the Details

Why Tether Shut Down Its Bitcoin Mining Operation In Uruguay

Tether has exited its Bitcoin mining operation in Uruguay after a prolonged dispute with the country’s state-owned power utility over electricity capacity, ending a project once positioned as a potential launchpad for the company’s wider South American mining expansion. The dispute involved two mining sites in Florida, Uruguay, and centered on how much electricity Tether’s […]

Tether Abandons $120M Bitcoin Mining Project In Uruguay After Contract Dispute

BitcoinWorld Tether Abandons $120M Bitcoin Mining Project in Uruguay After Contract Dispute Tether, the company behind the world’s largest stablecoin, has halted a roughly $120 million Bitcoin mining project in Uruguay, according to a report from The Block. The initiative, once viewed as a strategic entry point into South America’s cryptocurrency mining sector, collapsed amid a contractual disagreement with Uruguay’s state-owned power company, …

Tether’s $120M Bitcoin Mining Push Hits a Power Roadblock

Tether’s two Uruguay mining sites cost an estimated $120 million. A dispute with state utility UTE centered on how much electricity the sites could draw. UTE disconnected both facilities in July 2025 after bills went unpaid. Tether has continued pursuing Bitcoin mining elsewhere in South America. Tether’s attempt to establish Uruguay as a launchpad for a larger South American Bitcoin mining business ended with two abandoned facilities after a co…