Tether Holdings Ltd. has confirmed to the Uruguayan Ministry of Labor and Social Security that it will cease operations in Uruguay, resulting in the layoff of 30 out of its 38 employees. The company had initially planned a $500 million investment in the country, including the construction of data processing centers and a wind and solar power park. However, Tether cited increased operating costs and unfeasible economic conditions as reasons for halting the project. Despite securing over $100 million for the investment and allocating $50 million for infrastructure, Tether faced challenges with the 31.5 kV transmission contract model in Florida, which raised costs. The company proposed alternatives, such as switching to 150 kV transmission, to reduce expenses, but these were not implemented. Tether's decision underscores the difficulties in maintaining operations under the current economic conditions in Uruguay.