Tether Halts Bitcoin Mining in Uruguay Amid Rising Energy Costs ⚡️
Tether, the issuer of USDT, has confirmed the suspension of its Bitcoin mining operations in Uruguay due to increasing energy costs. This follows weeks of denying withdrawal reports.
Key Points:
Reason: Rising energy costs in the country.
Confirmation: Tether has officially informed Uruguay's Ministry of Labor about the suspension of activities and the dismissal of 30 employees.
Background: Tether had initially announced a $500 million investment in its "sustainable" mining venture in May 2023.
Future: Despite this pause, Tether remains committed to its long-term projects in Latin America.
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