Tether Uruguay Crypto Mining Operation
Sector: Commercial • Location: Uruguay
Source: Bitemycoin
Tether launched a $500 million crypto mining operation in Uruguay in May 2023, including building data-processing centers and a 300 MW renewable energy park. The project involved constructing three Data Processing Centers in the Florida and Tacuarembó provinces. However, due to high energy costs and lack of a competitive tariff framework, Tether has halted the operation and laid off most of its st
- Status
- Closed
- Sector
- Commercial
- Location
- Uruguay
- Updated
- 22 Jul 2026
- Source
- Bitemycoin
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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 launched a $500 million crypto mining operation in Uruguay in May 2023, including building data-processing centers and a 300 MW renewable energy park. The project involved constructing three Data Processing Centers in the Florida and Tacuarembó provinces. However, due to high energy costs and lack of a competitive tariff framework, Tether has halted the operation and laid off most of its staff, planning a permanent exit from mining operations in Uruguay by 2025. |
Original sector | Energy Intensive Operations |
Budget |
Location
Country | Uruguay |
Source
Source | Bitemycoin |
URL |
More Details
Record type | Project |
Sector | Commercial |
Article published date | 2025-11-30 |
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