How Tether’s bitcoin mining plans in Uruguay unraveled
The project unraveled over a dispute with state utility UTE as Tether’s sites were left abandoned and most staff were laid off.
7 Articles
7 Articles
Tether Pulls Plug on $120M Bitcoin Mining Venture in Uruguay Following Electricity Conflict
Tether abandons its $120M Uruguay Bitcoin mining operation after electricity supply dispute with UTE forces shutdown of two major facilities. The post Tether Pulls Plug on $120M Bitcoin Mining Venture in Uruguay Following Electricity Conflict appeared first on Blockonomi.
Uruguay seemed to be the perfect place for the cryptocurrency giant Tether to start a bitcoin mining operation. The company, which has spent almost two-thirds of all Stablecoins in circulation, chose this still largely agricultural corner of South America, which in recent years thanks to its reputation for political stability and favorable fiscal [...] The post Bitcoin mining plans of Tether fail in Uruguay first appeared on latinapress news.
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