Tether’s $120 million Bitcoin mining project in Uruguay has been terminated, according to a Reuters report cited by Techub. The report said Uruguay’s state-owned power company, UTE, cut electricity to Tether’s mining site in July 2025. The cutoff was linked to a contract dispute after a Tether representative did not attend the signing ceremony for a revised agreement. The halted power supply led to the end of the mining project, bringing the dispute into public view. The report did not provide additional details beyond the contract issue and the timing of UTE’s action.
Tether’s $120 million Bitcoin mining project in Uruguay has been terminated, according to Reuters.
The report said Uruguay’s state-owned power company UTE cut electricity to Tether’s mining facility in July 2025 because a Tether representative did not attend the signing ceremony for a revised contract. The project was later ended over the power contract dispute.
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