Largest private gold holder shuts down Bitcoin mining operations

Group 1 - Tether Holdings has decided to shut down its Bitcoin mining operations in Uruguay due to high energy costs and an inability to negotiate lower prices [1][5][6] - The company had initially planned a significant investment of approximately $500 million in Uruguay [8] - Tether's decision to exit follows a reported $4.8 million debt dispute with the state-owned electricity entity, UTE [6] Group 2 - Bitcoin mining is becoming less attractive due to reduced mining rewards from multiple halving events, despite the overall increase in Bitcoin prices [3][4] - The energy-intensive nature of Bitcoin mining drives companies to seek locations with lower energy costs [4]