Tether Denies Withdrawal From Uruguay's $500 million Crypto Mining Project
2025-09-23 01:22:45
According to Cointelegraph, Tether has denied local media reports that it has withdrawn from Uruguay's $500 million crypto mining project. It is reported that Tether's facilities in Uruguay have been cut off due to non-payment of about $4.80 million in electricity bills. In response, Tether said the report "does not accurately reflect the actual situation", saying that the local operating company is actively negotiating with the government to resolve differences. Although Uruguay's electricity prices are high in Latin America (about $60-180/MWh), Tether stressed that it will continue to evaluate the best development path in Uruguay and surrounding areas.
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