Tether’s $120 million Uruguay bitcoin mining project collapsed over a power contract dispute: Reuters

Tether's $120 million Uruguay bitcoin mining project collapsed due to a power contract dispute, according to Reuters. UTE cut power to Tether's mining sites in July 2025 after Tether representatives did not attend the signing of a revised contract. The project's failure highlights challenges in the bitcoin mining sector, impacting Tether's operations in Uruguay.