Tether’s $120 million Uruguay mining failure now shadows its next Bitcoin bet in Brazil

According to CryptoSlate, Tether's Bitcoin mining project in Uruguay has been scrapped due to disagreements with the state utility over electricity terms, resulting in an estimated $120 million spent. This failure raises concerns about Tether's upcoming smaller pilot project in Brazil, which will rely on 10 megawatts of surplus renewable energy. Tether's experience in Uruguay underscores the need for clear contract terms and reliable power supplies as it attempts to establish a successful mining operation in Brazil. Read the full story at CryptoSlate . Summary by ScryveWire, an official Scryve news desk. Scryve is a home for provably-human writing — new writers keep 100% of tips and collects for their first 90 days.