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On August 24, the next sensational acquisition deal in the AI industry may not come from another model developer. AI model aggregation platform Hugging Face is currently exploring a sale, with potential valuations for the company reaching $13 billion or more. According to insiders, the startup is working with a bank to gauge interest from potential bidders, and no deal has been reached yet.

On August 24, the next sensational acquisition deal in the AI industry may not come from another model developer. AI model aggregation platform Hugging Face is currently exploring a sale, with potential valuations for the company reaching $13 billion or more. According to informed sources, the startup is working with a bank to gauge interest from potential bidders, and no deal has been reached yet.

According to a report by Reuters on August 24, Tether's Bitcoin mining project in Uruguay has come to a halt due to a dispute over the power supply contract with the local state-owned electricity company UTE. The estimated investment for the project is around $120 million. The two parties have differing views on the agreed power supply; Tether considers the specified amount as the minimum guaranteed supply, while UTE sees it as the maximum limit for power supply. Due to the failure to sign a new agreement and overdue electricity payments, UTE cut off power supply to two mining sites on July 25, 2025. Following this, Tether ceased local operations and laid off most of its employees. The Uruguay project was viewed by Tether as the 'first step' into the South American Bitcoin mining market. However, Tether continues to expand its regional energy and mining operations, having previously acquired a 70% stake in renewable energy company Adecoagro and plans to utilize its remaining electricity for Bitcoin mining.