Tether Joins $1B Renewable Energy Initiative for Bitcoin Mining in El Salvador

Jun 6, 2023

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Tether, the issuer of stablecoin USDT, is expanding its energy investments in El Salvador, the Bitcoin country.

Green Energy Project

Stablecoin issuer Tether has in a green energy project in El Salvador, aiming to build a $1 billion renewable energy generation park called “Volcano Energy” in the region of Metapán. The project will combine solar and wind power sources within El Salvador’s volcanic region to create one of the world’s largest Bitcoin mining farms. Tether’s involvement reflects its commitment to renewable energy and support for El Salvador’s vision of innovation and sustainability.

Tether is expanding its energy investments, providing capital, tech expertise and advisory to the new venture Volcano Energy🌋

The potential of El Salvador 🇸🇻 as the global energy and hub is immense and at we’re grateful to be part of this opportunity ❤️…

— Paolo Ardoino 🍐 (@paoloardoino)

Tether’s Investment in Volcano Energy

Tether has joined the first round of investments in the Volcano Energy project, providing capital and expertise in energy, hardware, and communications. The initiative aims to build a 241 MW renewable energy generation park, with 169 MW of solar and 72 MW of wind energy. This will enable the mining farm to have an initial computing power of over 1.3 EH/s, making it capable of performing more than one quintillion calculations per second.

El Salvador’s Geothermal Potential

El Salvador has the highest geothermal energy production in Central America, and the chosen location for the project, Metapán in Santa Ana, offers suitable conditions for both solar and wind energy projects. The integration of renewable energy sources within the volcanic region highlights the country’s commitment to sustainable energy production and Bitcoin adoption.

Addressing Environmental Concerns

The Volcano Energy project is a response to criticisms regarding the environmental impact of Bitcoin mining. Tether asserts that over 50% of Bitcoin mining is already conducted using renewable energy sources, and investments like Volcano Energy will further increase this percentage. By supporting renewable energy initiatives, Tether aims to promote sustainable mining practices.

Wait is over! The power of is here 🌋🔌

— Volcano Energy 🌋🔌 (@Volcano_Energy)

Tether’s Role in Global Renewable Energy and Mining Infrastructure

By investing in renewable energy resources worldwide, Tether seeks to become a leading provider and investor in global renewable energy and mining infrastructure. The company recognizes the importance of energy innovation, competitiveness, diversification, and geographic expansion for the long-term sustainability of the Bitcoin network.

El Salvador’s Potential as a Bitcoin Mining Powerhouse

The Volcano Energy project, supported by Tether, positions El Salvador as a significant player in the global tech environment. With its volcanoes, natural resources, and the expertise and support of Tether, El Salvador has the potential to become a Bitcoin mining powerhouse. The country’s commitment to renewable energy and Bitcoin adoption solidifies its reputation as a leader in the industry.

Conclusion

Tether’s investment in the Volcano Energy project in El Salvador demonstrates its commitment to renewable energy and sustainable Bitcoin mining. The project’s integration of solar and wind power within the country’s volcanic region will contribute to the development of one of the world’s largest Bitcoin mining farms. El Salvador’s g//tether.to/en/tether-participates-in-1-billion-investment-to-build-the-worlds-largest-bitcoin-mining-farm-in-el-salvador/eothermal potential and Tether’s support pave the way for a sustainable and innovative future for Bitcoin mining in the country.

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