Tether Ends Uruguay Bitcoin Mining Operations After Power Dispute

Tether’s Bitcoin mining project in Uruguay was estimated at about $120 million. According to Odaily, the company and Uruguay’s state power utility UTE disagreed over the contracted electricity supply, with Tether viewing the amount as a minimum guaranteed supply and UTE treating it as a cap.UTE cut power to two mining sites on July 25, 2025, after a new agreement was not signed and electricity bills went unpaid. Tether then ended its local operations and laid off most of its staff. The company had previously described the project as its first step into South America’s Bitcoin mining market and said it is still expanding its regional energy and mining footprint, including a 70% stake in renewable energy company Adecoagro for planned Bitcoin mining using its excess power.