SAN SALVADOR : A public-private partnership in El Salvador will pump $1 billion into creating one of the world's largest bitcoin mining farms, the group called Volcano Energy announced on Monday.
Volcano Energy said the funds would go toward an estimated 241 MW power generation park using solar and wind energy in the northwestern municipality of Metapan, which will eventually power the bitcoin mining farm. A Reuters report found adoption among residents has been shaky, while the International Monetary Fund has cautioned against the embrace due to legal risks, fiscal fragility and the speculative market.
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