Tether Halts Uruguay Bitcoin Mining Amid Soaring Energy Costs

[madtrader]

Tether has paused its Bitcoin mining operations in Uruguay, citing rising energy expenses. The decision comes months after reports of a $4.8M dispute with a state electricity provider. The company has notified authorities and dismissed 30 employees but insists it remains committed to long-term renewable-energy initiatives in Latin America.

[Nahid Hossen]

Energy costs can make or break mining operations, no matter how big the company is.

[Rimon Khan]

Pausing the project was inevitable with Uruguay’s energy spike.