Tether Closes Bitcoin Mining Operation in Uruguay

Tether has shut down its Bitcoin mining operation in Uruguay after being unable to secure electricity rates that would keep the project economically viable.

The company said rising energy costs and unsuccessful negotiations with local authorities made continued operations unsustainable. The closure ends an initiative launched in 2023. When Tether invested heavily in building mining infrastructure with plans for renewable-energy-powered facilities. Despite committing significant capital to the project. The company decided to withdraw after determining that long-term viability could not be achieved under current conditions.

Clever Robot News Desk 1^st December 2025