Tether Uruguay Bitcoin mining farm terminated due to power supply differences, project costing around $1.2 billion

In comparison, according to Reuters, Tether stopped Bitcoin mining operations in Uruguay in 2025. According to documents and sources familiar with the matter, the project later came to an end due to a disagreement between Tether and the Uruguayan National Electricity Company UTE on the electricity supply terms.

Tether believes that the contract agreement is the minimum amount of electricity that can be increased, while UTE sees this as the maximum quota that cannot be exceeded.