Tether Mining Operations in Uruguay
Sector: Power Transmission • Location: Uruguay
Source: The Cryptonomist
Tether planned to invest $500 million in Uruguay to build three data processing centers and a 300 MW renewable energy park. The project required approximately 165 MW of power. However, due to unsustainable energy costs, uncompetitive electricity tariffs, and unresolved contract terms with the state utility UTE, Tether is drastically scaling back its mining operations and laying off most employees.
- Status
- Prospective
- Sector
- Power Transmission, Power Generation (CCGT)
- Location
- Uruguay
- Updated
- 22 Jul 2026
- Source
- The Cryptonomist
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Project Information
Participants
| Not available for this record. |
Status
Original status | scaled back |
Taiyo status | Prospective |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | Tether planned to invest $500 million in Uruguay to build three data processing centers and a 300 MW renewable energy park. The project required approximately 165 MW of power. However, due to unsustainable energy costs, uncompetitive electricity tariffs, and unresolved contract terms with the state utility UTE, Tether is drastically scaling back its mining operations and laying off most employees. The company spent around $100 million before halting further investment and is evaluating future options in Uruguay's energy and technology sectors. |
Original sector | Energy and Technology |
Budget |
Location
Country | Uruguay |
Source
Source | The Cryptonomist |
URL |
More Details
Record type | Project |
Sector | Power Transmission, Power Generation (CCGT) |
Article published date | 2025-11-30 |
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