Hydroelectric power plant in Costa Rica used excess electricity for mining

Get real time updates directly on you device, subscribe now.

A power plant on the Poas River near the Costa Rican capital, San Jose, lost some of its profits during the pandemic when the government bought less electricity. The owner of the station found a use for unclaimed electricity.

For thirty years, the plant worked without interruptions, but in the spring of 2020 the enterprise had to be closed for nine months, said the owner of the hydroelectric power station, Eduardo Cooper:

“After a long downtime, exactly a year ago, I heard about Bitcoin and mining. At first I was skeptical, but then I saw how much electricity this business consumes and realized: we have everything we need. ”

His company Data Center CR invested $ 500,000 in mining equipment and started mining cryptocurrencies. The conditions were perfect. According to Cooper, Costa Rica has everything miners dream of: cheap electricity and a stable internet connection. The businessman is sure that the government should actively develop the mining of cryptocurrencies in the country.

Now this business in Costa Rica is almost not regulated in any way. Only the local population is engaged in mining. However, the country’s central bank has already announced that it is supporting the development of technological innovation and fintech.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.