Tether’s $120M Uruguay Bitcoin Mining Bet Ends in Power Dispute

Tether’s planned $120M Bitcoin mining project in Uruguay has been terminated following a dispute with the state electricity provider over power supply and contract terms, halting the deployment. The episode highlights that reliable, low-cost grid access and local regulatory alignment remain critical operational risks for large-scale mining investments. For Bitcoin, this underscores that capital alone cannot guarantee expansion of mining capacity and that such disputes can quickly shift regional hash-rate distribution and operational resilience.