Tether Halts Bitcoin Mining Operations in Uruguay Due to High Energy Costs

Tether, the issuer of the world’s largest stablecoin USDT, has suspended its Bitcoin mining operations in Uruguay amid rising energy costs. This decision follows weeks of speculation and a $4.8 million debt dispute with Uruguay’s state-owned power company, UTE. 30 employees have been laid off as Tether formally informed the country’s Ministry of Labor of the suspension. The company had previously announced its ambitious plans to establish a