According to ChainCatcher news reported by CoinDesk, Tether will close its mining operations in Uruguay and lay off 30 of its 38 employees due to its inability to reach an agreement with Uruguayan authorities on energy prices. Tether originally planned to invest $500 million in Uruguay but decided to withdraw due to high energy costs and regulatory hurdles. Before deciding to gradually cease operations in Uruguay, Tether had already invested over $100 million in the country and promised to reinvest an additional $50 million for infrastructure development.
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