Stablecoin giant Tether is reportedly halting its Bitcoin mining operations in Uruguay. While initial reports from Decrypt noted the move as a shift in infrastructure strategy, local media now indicates that high energy costs are the primary driver behind the decision to suspend activities in the region. This operational pause marks a significant change in Tether's direct involvement in Bitcoin production infrastructure in South America. Simultaneously, the company is aggressively bolstering its reserves. Tether acquired over 26 tonnes of gold during the third quarter of 2025, a purchasing volume that reportedly exceeds that of major central banks for the same period. For comparison, recent data indicates Kazakhstan acquired 18 tonnes, while Brazil and Turkey purchased 15 and 7 tonnes respectively. This accumulation highlights a shifting dynamic where crypto industry giants are competing directly with sovereign entities for gold reserves, reinforcing Tether's asset-backing strategies alongside its pivot away from direct mining operations. [Update 1] Added specific figures regarding Tether's Q3 gold acquisition, detailing the purchase of over 26 tonnes which surpassed the individual acquisition volumes of central banks in Kazakhstan, Brazil, and Turkey.