It's a tar file with all the files already in it (I had a peek inside the tar file).
The command to start it looks like
utserver: ELF 32-bit LSB executable, Intel 80386, version 1 (SYSV), dynamically linked (uses shared libs), for GNU/Linux 2.6.15, not stripped
Also have a look at
./utorrent-server-v3_0/docs/ for the file
If you are looking for the client you need
wine to run it. I would advice looking for another client. Both deluge and transmission are perfect for downloading torrents.