**[A $120 Million Bitcoin Mining Investment Ends, Tether Shuts Down Uruguay Project Due to Power Dispute]** Odaily Planet Daily News: Stablecoin issuer Tether entered Uruguay in May 2023, planning to collaborate with licensed local companies to conduct sustainable Bitcoin mining and invest in energy production. The project included two mining sites in Florida Province, with an estimated investment of $60 million each, totaling approximately $120 million. Uruguay's state-owned power company UTE and Tether had disagreements over the electricity supply contract terms. Tether's Uruguay entity, Microfin, stopped paying electricity bills in May 2025 and notified UTE in June of its intention to terminate the contract. On July 25, UTE cut off power to the mining sites, with Microfin owing nearly $5 million and monthly electricity costs around $2 million. On November 25, 2025, Tether informed Uruguay's labor department of its decision to cease operations, resulting in the elimination of 30 out of 38 local jobs. UTE stated that Microfin settled its outstanding payments in December. In 2025, 98% of Uruguay's electricity generation came from renewable energy sources. (Source: Bitcoin.com News)