Tether invests in $1 billion 'Volcano Energy' Bitcoin mining project Bitcoinmining BTC ElSalvador
- Tether, the company responsible for minting USDT, the largest stablecoin by market cap in the cryptocurrency ecosystem, has announced that it took part in the first round of a new renewable energy initiative in El Salvador that is looking to invest $1 billion into building “Volcano Energy,” a 241 MW generation park in Metapán.
The farm is expected to generate an initial computation power that surpasses 1.3 EH/s, where 1 EH/s is “equivalent to one quintillion hashes per second.” As a result of this criticism, miners have been making increased efforts in recent years to get their energy from renewable sources in order to make the process more efficient and acceptable in the eyes of the public. Renewable energy sources, such as hydroelectric power, also offer some of the lowest energy rates in the world, depending on location.
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