Tether stopped its Bitcoin mining operation in Uruguay in 2025, according to Reuters. Documents and people familiar with the matter said the project later fell apart because Tether and Uruguay’s state power company, UTE, held different interpretations of the contract’s power-supply terms. Tether viewed the clause as setting a minimum amount of electricity that could be increased, while UTE treated it as a maximum cap that could not be exceeded. The disagreement ended the project, based on the account cited by Reuters.
Tether stopped its Bitcoin mining operation in Uruguay in 2025, according to Reuters.
Documents and people familiar with the matter said the project later collapsed because Tether and Uruguay’s state power company, UTE, interpreted the contract’s power-supply terms differently. Tether viewed the agreement as setting a minimum electricity supply that could be raised, while UTE treated it as a maximum allotment that could not be exceeded.
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