In El Salvador, a new project will be created through Volcano Energy focused on the Bitcoin mining industry, by foreign investors, who assure that in the initial phase of the project, they will have a capital of $250 million dollars, a figure that they project to exceed and reach $1 billion dollars.
“The main source will eventually be geothermal energy, and the country is rich in it and we will use this resource. One of the main things that attracted us to El Salvador was the potential of bitcoin mining with geothermal energy”, highlighted the chairman of Volcano Energy, Max Keiser, with respect to the generation of bonds with which he foresees that the country will be debt free in 2030.
Likewise, Kaiser detailed that the project will be initially fed through a renewable energy generation park of 241 megawatts (MW) that will be located in the hamlet of El Shiste, municipality of Metapán, Santa Ana, energy that they expect to increase to 5,000, 10,000, 15,000 or even 20,000 MW.
La empresa Volcano Energy anunció el desarrollo de un proyecto sobre industria minera #Bitcoin para El Salvador, en el que serán invertidos mil millones de dólares.
Esto permitirá la creación de cientos empleos entre ingenieros, programadores y desarrolladores. pic.twitter.com/eOOnAgkOaf
— Noticiero El Salvador 🇸🇻 (@NoticieroSLV) June 13, 2023
