Published Aug 23, 2026, 1:02 PM ET · Updated 3 months ago · 2 sources
THE BLOCK: Tether's $120 million bitcoin mining project in Uruguay collapsed after a contract dispute with state utility UTE, per Reuters. Tether saw its power allocation as a minimum that could rise, while UTE treated it as a hard cap and cut power to the two sites in July 2025.
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Original Report
THE BLOCK: Tether's $120 million bitcoin mining project in Uruguay collapsed after a contract dispute with state utility UTE, per Reuters. Tether saw its power allocation as a minimum that could rise, while UTE treated it as a hard cap and cut power to the two sites in July 2025.