Tether’s Uruguay Bitcoin Mining Sites Shut Down After Power Dispute

Tether’s Bitcoin (BTC) mining sites in Uruguay shut down in July 2025 after a dispute with state-run utility UTE over electricity supply escalated into nonpayment and a contract termination notice from site operator Microfin. UTE cut power to both sites on July 25. Microfin had stopped paying its electricity bills in May and sent notice in June that it would terminate its contract. The unpaid balance was near $5 million when power was cut, while monthly charges were about $2 million. Microfin cleared the debt in December 2025. The dispute centered on the amount of electricity guaranteed by the contract. Tether treated the contracted supply as a minimum that could be increased as the operation grew, while UTE treated it as a maximum limit.

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