The power plant, located near the Tecapa volcano, produces 102 MW of electricity. The mining center located there, equipped with several hundred installations, consumes 1.5 MW.
The Bitcoin mining project was developed by LaGeo. The project was opposed by several environmental groups, who said it would require significant water resources and would pose a major problem for El Salvador.
The country's government is trying to attract additional funds for the development of Bitcoin mining infrastructure, offering tax breaks to investors, and continues the policy of purchasing 1 BTC every day. Currently, the government has 5,750 bitcoins worth $356 million on its balance sheet.
Let us recall that the President of El Salvador, Nayib Bukele, announced the possibility of mining cryptocurrency using geothermal energy in the summer of 2021. ONBTC recently announced the opening of a public mempool through which anyone can view the reserves of the first cryptocurrency.
Source: Bits
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