TechFlow, September 23 — According to Cointelegraph, Tether has denied local media reports claiming its withdrawal from a $500 million cryptocurrency mining project in Uruguay. Earlier reports stated that Tether's facilities in Uruguay had been disconnected due to unpaid electricity bills amounting to approximately $4.8 million. In response, Tether said the reports "do not accurately reflect the actual situation," adding that its local operating company is actively negotiating with the government to resolve differences. Although electricity prices in Uruguay are relatively high compared to Latin America (about $60–180 per MWh), Tether emphasized it will continue evaluating the optimal development path in Uruguay and surrounding regions.
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