said the investment marks the stablecoin issuer’s intent to drive investment in renewable energy production and mining infrastructure.
According to Volcano Energy, the 241-MW power generation capacity will be divided between 169 MWs of photovoltaic solar energy and 72 MWs of wind energy. According to Tether, the computing power of the park is estimated to exceed 1.3 exahashes per second.
“Flip the script on traditional finance. Volcano Energy is powering the Bitcoin revolution in El Salvador with renewable energy.“ The Salvadoran government will play a crucial role in the planning and execution of the initiative, securing preferred participation equivalent to 23% of revenues. The investors will own 27%, with the remaining 50% reinvested in expanding energy production capacity and advancing Bitcoin mining.
Volcano Energy, the company behind the site, said the funds would go toward developing the power generation park using solar and wind energy, which will eventually power the Bitcoin mining operation.
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