Pioneering Bitcoin Mining: El Salvador’s Volcano Energy and Luxor Forge Path in Renewable Energy Initiative
El Salvador marks a significant milestone in its renewable energy-driven Bitcoin mining initiative as it unveils its inaugural local Bitcoin mining pool. The Volcano Energy project, in collaboration with Luxor Technology, commences block mining through Lava Pool.
In a notable move for the Bitcoin-friendly nation, the $1 billion renewable energy project gained attention in early 2023, drawing investments from prominent entities like stablecoin issuer Tether. The initiative aims to harness electricity from sustainable sources within El Salvador to fuel upcoming Bitcoin mining endeavors in the country.
Volcano Energy leverages Luxor’s expertise in Bitcoin mining software and services, signaling a strategic partnership. The project further adopts Luxor’s Hashrate Forward Marketplace, employing automated risk management strategies similar to those utilized by major Bitcoin mining operators, thereby mitigating market volatility.
Read More… [Source: CoinTelegraph.com]
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