EconomyTether’s $120 million Uruguay mining failure shadows its next Bitcoin bet in Brazil
Tether abandoned its Uruguay Bitcoin mining venture after a dispute with state utility UTE over electricity terms. A former contractor estimated spending at about $120 million across two sites, though Tether has not disclosed that figure as a confirmed loss. The episode now puts added scrutiny on Tether’s smaller renewable-energy mining pilot with Adecoagro in Brazil.
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CryptoSlate★★☆☆☆2026-08-25 08:30Original
Tether’s $120 million Uruguay mining failure shadows its next Bitcoin bet in Brazil
Economy