Tether Halts $500 Million Bitcoin Mining in Uruguay: A Cost-Related Shutdown

Tether, the renowned stablecoin issuer, has halted its $500 million Bitcoin mining operation in Uruguay. The decision stems from financial disputes with the local electricity provider and unsustainable energy costs, resulting in a significant impact on the workforce. This event underscores the challenges facing large-scale crypto mining in terms of both finance and energy management. Experts highlight the need for cost-effective solutions within volatile market conditions.