Tether's mining plan in Uruguay is hindered by power arrears, causing operational stagnation.

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[Coin World] Due to the Uruguayan state utility company UTE cutting off power supply to its local partner Microfin for owing more than $5 million, operations in Flores Island and Florida region have been suspended, causing Tether's Bitcoin mining expansion plans in Uruguay to come to a halt. The USDT issuer entered Uruguay in 2023, utilizing renewable energy for mining. Despite signing a memorandum in June, the company still faces challenges regarding energy contract guarantees and electricity price disputes. This setback has raised questions about the viability of mining in high-cost markets, as Tether's broader plan to control 1% of the global Bitcoin network has encountered obstacles.

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CountdownToBrokevip
· 09-21 02:53
It turns out to be the fate of being Be Played for Suckers.
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PuzzledScholarvip
· 09-19 22:46
Do these big companies really not pay for utilities?
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ChainWatchervip
· 09-19 22:43
Why bother mining when the electricity bill is still unpaid?
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quiet_lurkervip
· 09-19 22:41
Mining costs so much money, it’s better to just buy coins directly.
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BearMarketSurvivorvip
· 09-19 22:31
It's ridiculous to owe electricity bills.
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