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Aug 21, 2026

Tether abandons $120 million Bitcoin mining operation in Uruguay after power dispute

Tether has exited its Bitcoin mining facilities in Uruguay, walking away from an estimated $120 million investment after a prolonged dispute with state utility UTE over power allocation.

Aug 21, 2026·2 sources
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Jun 16, 2026

World Cup day 5 produces four shock draws as Spain held by Cape Verde, Saudi Arabia and Egypt deny Uruguay and Belgium

The 2026 FIFA World Cup kicked off with opening matches ending in draws across multiple groups. Iran drew 2-2 with New Zealand in Los Angeles, Saudi Arabia held Uruguay to a draw in Miami, and Belgium settled for 1-1 with Egypt despite numerous chances.

Jun 16, 2026·3 sources
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Top claims

  • ▪Tether CEO Paolo Ardoino stated that the company has invested more than $2 billion globally in energy production and bitcoin mining
  • ▪Pete Howson of Northumbria University stated that Tether's quick exit from Uruguay illustrates the hypermobile nature of bitcoin mining, which rarely creates long-term local jobs
  • ▪A left-leaning Uruguayan government took office in March 2025 and appointed new directors at UTE who took a harder line on renegotiating the energy supply contract with Tether

Topics

Bitcoin miningCrypto regulationEnergy security & geopoliticsStablecoinsBitcoinFIFA World Cup 2026

Related entities

MiamiEgyptSaudi ArabiaBelgiumLos AngelesIranNew Zealand