Tether abandons $120M Bitcoin mining project in Uruguay after power dispute with state utility UTE led to sites being disconnected in July 2025

Tether's $120 million Bitcoin mining operation in Uruguay was taken offline after state-owned utility UTE cut electricity to the sites in July 2025, Reuters reported. The disconnection followed a dispute over unpaid power bills and a revised electricity contract. The shutdown derailed a project that was intended to anchor Tether's Bitcoin mining expansion across South America.

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