Tether Halts Bitcoin Mining in Uruguay Due to Costly Energy

Tether has suspended its Bitcoin mining operations in Uruguay, citing exorbitant energy costs and disputes with the state utility, UTE, as a primary factor. This decision impacts a $500 million investment plan that involved building three data centers and a renewable energy park. While this shutdown might not immediately affect cryptocurrency markets, it highlights wider challenges faced by large-scale crypto projects regarding energy costs and tariffs.