A Tether spokesperson confirmed on Friday that Tether, the world's largest issuer of the stablecoin USDT, has suspended its Bitcoin mining operations in Uruguay due to rising energy costs, but remains committed to its long-term projects in Latin America. This confirmation comes just weeks after Tether denied reports of withdrawing from Uruguay. Previously, reports indicated a $4.8 million debt dispute between Tether and Uruguay's state-owned power company, UTE. According to local news agency El Observador on Tuesday, Tether had formally notified the Uruguayan Ministry of Labor of the suspension of mining activities and the layoff of 30 employees. Tether initially announced the launch of a "sustainable Bitcoin mining operation" in Uruguay in May 2023, aiming to utilize the country's renewable energy sources. It was reported that Tether originally planned to invest $500 million in mining operations in Uruguay. (Cointelegraph)