Tether Bitcoin Mining Project in Uruguay
Sector: Power Generation (CCGT) • Location: Florida, Uruguay
Source: Bitget
Tether initiated a $500 million Bitcoin mining project in Uruguay in May 2023, focusing on sustainable crypto mining using renewable energy. The project included plans for a 300 MW renewable energy facility and three data centers requiring 165 MW of electricity. However, due to rising electricity costs and unresolved tariff disputes, the project was halted in July 2025, leading to power disconnect
- Status
- Closed
- Sector
- Power Generation (CCGT)
- Location
- Florida, Uruguay
- Updated
- 22 Jul 2026
- Source
- Bitget
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Project Information
Participants
| Not available for this record. |
Status
Original status | cancelled |
Taiyo status | Closed |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | Tether initiated a $500 million Bitcoin mining project in Uruguay in May 2023, focusing on sustainable crypto mining using renewable energy. The project included plans for a 300 MW renewable energy facility and three data centers requiring 165 MW of electricity. However, due to rising electricity costs and unresolved tariff disputes, the project was halted in July 2025, leading to power disconnections and 30 layoffs. Tether is shifting its mining operations to Paraguay and El Salvador. |
Original sector | Energy |
Budget |
Location
Country | Uruguay |
City | Florida |
Source
Source | Bitget |
URL |
More Details
Record type | Project |
Sector | Power Generation (CCGT) |
Article published date | 2025-11-30 |
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