El Salvador's Bold Move: Creating the Biggest Bitcoin Mining Farm
El Salvador is seizing the opportunity presented by its abundant natural resources and introducing “Volcano Energy,” positioning itself as a major contender in the global Bitcoin mining industry. The country’s ambitious plan involves the construction of a 241 MW renewable power generation park in the Metapán region, integrating solar and wind projects.
The goal is to establish one of the world’s largest Bitcoin mining farms, situated in the El Shiste hamlet within the municipality of Metapán.
With a total commitment of $1 billion, the project commences with an initial investment of $250 million from prominent leaders in the Bitcoin industry, in collaboration with renewable energy technology developers and Bitcoin mining experts. The government of El Salvador plays a vital role, securing a 23% revenue participation, while the remaining ownership will be distributed among investors to expand energy production and advance Bitcoin mining.
Simultaneously, Tether has decided to actively engage in El Salvador’s billion-dollar renewable energy initiative. Leveraging its expertise in energy, hardware, and communications, Tether contributes capital and support to the development of “Volcano Energy”.
The chosen site in El Salvador boasts the highest geothermal energy production in Central America. With a capacity divided into 169 MW of photovoltaic solar energy and 72 MW of wind energy, this groundbreaking project will unleash an initial computation power surpassing 1.3 EH/s, signifying a significant milestone for the country and the entire industry.
Paolo Ardoino, Chief Technology Officer at Tether, expresses great enthusiasm for this innovative venture, emphasizing that the investment in Volcano Energy aligns with Tether’s commitment to diversify its strategic ecosystem and support renewable energy production.
With a total commitment of $1 billion, the project commences with an initial investment of $250 million from prominent leaders in the Bitcoin industry, in collaboration with renewable energy technology developers and Bitcoin mining experts. The government of El Salvador plays a vital role, securing a 23% revenue participation, while the remaining ownership will be distributed among investors to expand energy production and advance Bitcoin mining.
Simultaneously, Tether has decided to actively engage in El Salvador’s billion-dollar renewable energy initiative. Leveraging its expertise in energy, hardware, and communications, Tether contributes capital and support to the development of “Volcano Energy”.
The chosen site in El Salvador boasts the highest geothermal energy production in Central America. With a capacity divided into 169 MW of photovoltaic solar energy and 72 MW of wind energy, this groundbreaking project will unleash an initial computation power surpassing 1.3 EH/s, signifying a significant milestone for the country and the entire industry.
Paolo Ardoino, Chief Technology Officer at Tether, expresses great enthusiasm for this innovative venture, emphasizing that the investment in Volcano Energy aligns with Tether’s commitment to diversify its strategic ecosystem and support renewable energy production.
