Tether Halts $500 Million Crypto Mining Operation in Uruguay, Citing High Energy Costs and Unpaid Bills
Stablecoin provider Tether has ceased its large-scale Bitcoin mining operations in Uruguay, initially projected as a $500 million investment, due to high energy costs and the absence of a competitive tariff framework. Tether laid off 30 of its 38 staff in Uruguay. The company confirmed the termination following a meeting with the Ministry of Labor … Read more