How Tether's bitcoin mining plans in Uruguay unraveled

MONTEVIDEO/PARIS, Aug 21 : Uruguay seemed like the perfect place for cryptocurrency giant Tether to launch a bitcoin mining operation.The company, which has issued nearly two thirds of all stablecoins in circulation, picked this still largely agricultural corner of South America that has in recent years become a hub for global fintech firms, helped by its reputation for political stability and favorable tax conditions.In 2023, Tether said it would build two mining sites in Uruguay, part of a spending spree it said would bring economic development, new energy infrastructure and jobs to the country.But amid a dispute over the amount of energy that would be supplied for its thirsty bitcoin mining, the plans unraveled and the mining sites were abandoned, a Reuters review of documents and inter