Volcano Energy will invest in cryptocurrency miners for El Salvador

Volcano Energy, a leading renewable energy company, has announced an impressive $1 billion investment to carry out an ambitious Bitcoin mining industry project in El Salvador.

In a statement posted on Twitter by President Nayib Bukele, it was revealed that the total commitment for this project reaches $1 billion, with an initial investment of $250 million led by prominent players in the Bitcoin industry. This collaboration also includes renowned renewable energy developers and manufacturers, as well as global Bitcoin mining experts.

Both the Government of El Salvador and Volcano Energy are demonstrating their determination to forge a prosperous future based on sustainable energy, technological innovation, and leadership in the Bitcoin mining industry. This initiative is part of the efforts of the Salvadoran government to consolidate its economic commitment around the adoption of Bitcoin as the official currency along with the US dollar, a pioneering measure that was implemented in September 2021.

Although the precise details about the implementation of this measure are being kept confidential, including the management of a fund of 150 million dollars, the available information has been obtained mainly through the messages on Twitter of President Bukele, who has shared updates on the progress of the project.

In short, Volcano Energy’s $1 billion investment represents a significant step on the path to a prosperous future for El Salvador, based on sustainable energy and leadership in the Bitcoin mining industry, supported by strategic collaboration with leading experts in the field.

K. Tovar

Source: Descifrado

(Reference image source: Shubham Dhage, Unsplash)

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