What happened
Power supply to the sites was disconnected after company representatives failed to appear for the signing of a revised contract.
Why it matters
The story links the operation of a major bitcoin mining project not to technical capacity, but to an active electricity supply agreement.
Uruguayan energy company UTE disconnected power supply to Tether's bitcoin mining sites in July 2025. According to a Reuters report, Tether representatives did not show up to sign a revised contract.
The event indicates that the bitcoin mining project in Uruguay, valued at 120illion in the report's headline, encountered an issue with its energy contract. The Block's source recounts precisely this version of events; there is no separate confirmation from UTE or Tether in the provided materials.
Further consequences depend on whether the contract was definitively terminated and whether electricity deliveries resumed after the disconnection. These details are not disclosed in the source data.
Confirmed facts
- Reuters reported that Tether's 120illion bitcoin mining project in Uruguay faced an energy contract issue.
- UTE disconnected power supply to Tether's bitcoin mining sites in July 2025.
- According to data cited in the article, Tether representatives did not attend the signing of the revised contract.
- The sole source in the provided package is The Block's retelling citing Reuters; full texts of the materials are not presented.
Context
The Block material citing Reuters was published on August 23, 2026. Available confirmation is limited to metadata and a brief synopsis of the source.
What remains unknown
- Was the contract definitively terminated, or was the disconnection temporary?
- Did power supply to the sites resume after July 2025?
- What position do UTE and Tether hold regarding the dispute?
- Were the stated 120illion actually invested?
Editorial context
Confidence: medium
The likely consequence is a review of the project's energy supply and contractual model. The next observable signal will be a public statement from UTE or Tether regarding the contract status and resumption of supplies. Significant uncertainty remains: there is no confirmation from the parties or data on the current state of the facilities in the available materials.