Tether’s $120 million Uruguay mining failure now shadows its next Bitcoin bet in Brazil
Tether’s $120 million investment in two Uruguay mining sites collapsed after a power‑allocation dispute, leaving only a smaller pilot at Adecoagro to demonstrate reliable energy access. The setback now casts doubt on the company’s upcoming Bitcoin mining venture in Brazil, as it seeks to secure stable power for new operations. The failure highlights the challenges of renewable‑energy‑based mining in regions with contested grid arrangements.
Tether’s $120 million investment in two Uruguay mining sites collapsed after a power‑allocation dispute, leaving only a smaller pilot at Adecoagro to demonstrate reliable energy access. The setback now casts doubt on the company’s upcoming Bitcoin mining venture in Brazil, as it seeks to secure stable power for new operations. The failure highlights the challenges of renewable‑energy‑based mining in regions with contested grid arrangements.
Sources
- CryptoSlate — Tether’s $120 million Uruguay mining failure now shadows its next Bitcoin bet in Brazil
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