Tether’s game plan in El Salvador: Why invest in Volcano Energy?

in El Salvador’s renewable power generation project. Volcano Energy is set to generate electricity from solar and wind energy in El Salvador to power future Bitcoin mining operations in the country.

Tether chief technology officer Paolo Ardoino and Cointelegraph journalist Gareth Jenkinson at Money 20/20 in Amsterdam. Source: Cointelegraph There is also an ideological element to the move, with Ardoino stressing his belief that El Salvador is blazing the trail for sovereign Bitcoin adoption despite relatively slow uptake of BTC as a payment option in the country.

“Given all the powers that they had, it still took five, six years, and yet people were super confused.”

There is also an ideological element to the move, with Ardoino stressing his belief that El Salvador is blazing a trail for sovereign Bitcoin adoption despite the relatively slow uptake of BTC as a payment option in the country.

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El Salvador’s Bitcoin miner Volcano Energy launches with $250M investmentEl Salvador’s $1 billion Bitcoin mining push kickstarts with a 241-megawatt power generation park, with Max Keiser leading the charge as chairman of Volcano Energy. Volcano Energy, the company behind the site, said the funds would go toward developing the power generation park using solar and wind energy, which will eventually power the Bitcoin mining operation.
Source: Cointelegraph - 🏆 562. / 51 Read more »