*El Salvador-based public-private venture Volcano Energy and US company Luxor Technology Corporation have officially unveiled El Salvador’s first mining pool, known as Lava Pool, for cryptocurrency bitcoin, powered by renewable geothermal energy. Volcano Energy’s chief strategy officer (CSO) Gerson Martínez was cited by US-based digital currency publication, Bitcoin Magazine, as saying: “Our vision is to create a vertically integrated energy and bitcoin mining company whose value is accretive to investors and to all Salvadorean citizens.” El Salvador adopted the cryptocurrency as legal tender in September 2021 – a major initiative of the populist government led by President Nayib Bukele. In June Hong Kong-based firm Tether, which operates the fintech platform tether.to, announced that it participated in the first round of a new US$1bn initiative to support and promote mining of bitcoin in El Salvador.
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LatinNews Daily - 06 October 2023
In brief: El Salvador announces first bitcoin mining pool
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