Tether confirms Uruguay Bitcoin mining exit amid high energy prices

Tether halts Bitcoin mining in Uruguay, reportedly dismissing 30 staff amid rising energy costs and a $4.8 million debt dispute with state power firm UTE.

Tether, the issuer of USDT, the world’s largest stablecoin, has halted Bitcoin mining operations in Uruguay due to rising energy costs.

“We can confirm that we have paused operations in Uruguay,” a Tether spokesperson told Cointelegraph on Friday, adding that the company remains committed to its long-term projects in Latin America.

The confirmation comes weeks after Tether denied reports that it planned to exit the country following a $4.8 million debt dispute with a state-owned electricity provider in September.

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