Bitcoin mine project in Tether Uruguay stalled owing to power contract disputes, with investments or US$ 120 million Dollar

On August 24th, Reuters reported that the Bitcoin mine project, which was built by Tether in Uruguay, was finally halted owing to a contract dispute with UTE, a local state-owned electricity company, and that the project was estimated to be worth $120 million. The parties differed as to the amount of power provided under the contract, which Tether considered to be the minimum guaranteed supply, while UTE considered it to be the ceiling. As a result of the failure to sign the new agreement and the failure to pay the electricity bill, UTE cut off the power supply from two mines on 25 July 2025, and Tether then terminated local operations and cut off most of its staff. The Uruguayan project was seen by Tether as a "first step" in the South American Bitcoin mining market. However, Tether continues to expand the regional energy and mining landscape, after having acquired 70 per cent of the shares of the renewable energy enterprise Adecoagro and planning to use its remaining electricity to dig in bitcoin。