Tether $120 million bitcoin mining project facing electricity barriers

Tether ' s $120 million bitcoin mining project in Uruguay was unsuccessful owing to a contract dispute with UTE, a State-owned power supplier, which resulted in the abandonment of two facilities. According to well-informed estimates, the cost of construction of these facilities was approximately $120 million, and electricity was lost in July 2025. Tether had planned to pilot a larger bitcoin mining operation in Uruguay, but the project faced major obstacles due to increased demand for electricity and differing contractual interpretations. Nevertheless, Tether continues its broader energy strategy and plans to expand further, for example, in Brazil。