Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

Tether pauses Bitcoin mining operations in Uruguay due to rising energy costs.

According to news from Coinworld, a spokesperson for Tether confirmed on Friday that due to rising energy costs, Tether, the issuer of the world's largest stablecoin USDT, has suspended its Bitcoin mining operations in Uruguay but remains committed to long-term projects in Latin America. This confirmation from Tether comes just weeks after it denied reports of exiting Uruguay. Earlier reports indicated that Tether had a $4.8 million debt dispute with Uruguay's state-owned electricity company UTE. According to local news agency El Observador, Tether has officially notified the Uruguayan Ministry of Labor of the suspension of mining activities and has laid off 30 employees. Tether initially announced the launch of its “sustainable Bitcoin mining operations” in Uruguay in May 2023, aiming to utilize the country's renewable energy. Tether had originally planned to invest $500 million in mining operations in Uruguay. (Cointelegraph)

BTC7.24%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)