Tether Stops Bitcoin Mining in Uruguay Due to High Energy Costs
Update: 2025-11-28
Description
Tether, the third-largest cryptocurrency by market value, is ceasing its Bitcoin mining operations in Uruguay due to high energy costs. The company, based in El Salvador, has laid off most of its Uruguayan employees and will shift its focus to other Latin American ventures, such as its investment in Adecoagro. This move underscores the financial challenges and energy demands of cryptocurrency mining.
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