The Tether Uruguay Bitcoin Mining Farm project has been stalled due to a power contract dispute, with an investment amount potentially reaching $120 million.

BlockBeats News, August 24th, according to Reuters, Tether's Bitcoin mining farm project in Uruguay, which the company invested in, has come to a halt due to a power supply contract dispute with the local state-owned electric company UTE. The project's investment scale is estimated to be around $120 million.

There was a disagreement between the two parties regarding the agreed-upon amount of electricity supply in the contract. Tether believed the related amount was the minimum guaranteed supply, while UTE considered it as the upper limit of supply. As a new agreement was not signed and there were outstanding electricity bills, UTE cut off the power supply to the two mining farms on July 25, 2025. Subsequently, Tether ceased its local operations and laid off most of its employees.

The Uruguay project was seen by Tether as the "first step" in entering the South American Bitcoin mining market. However, Tether is still expanding its presence in the cryptocurrency mining sector. Previously, it acquired a 70% stake in the renewable energy company Adecoagro and plans to use the remaining power capacity for Bitcoin mining.