Tether Expands Investments in Green Bitcoin Mining, Invests in El Salvador’s Volcano Energy

Following the company’s announcement that it volition physique a sustainable Bitcoin mining cognition successful Uruguay, the stablecoin issuer Tether has disclosed its concern successful a Salvadoran bitcoin mining cognition called “Volcano Energy.”

Tether Backs Volcano Energy

Tether is expanding its investments successful caller times, having announced a mining task successful Uruguay and revealing an investment successful the Georgia-based outgo processing institution Citypay.io. The stablecoin company, liable for the largest stablecoin plus by marketplace headdress (USDT), disclosed connected Monday that it participated successful a $1 cardinal concern successful Volcano Energy, which is backed by Max Keiser.

The funds obtained by Volcano Energy volition beryllium utilized for a 241-megawatt (MW) renewable vigor mining installation successful Metapán. The information halfway volition harness photovoltaic solar and upwind powerfulness to substance the company’s operations. Tether and Volcano Energy expect a important summation successful the proportionality of sustainable bitcoin mining successful the forthcoming years.

🌋 Energy 🇸🇻 https://t.co/dqvly29BUo

— Josue Lopez 🇸🇻🇨🇭 (@JosueLopezGal) June 3, 2023

“Volcano Energy represents 1 of the astir ground-breaking and strategical initiatives we are investing successful and we look guardant to moving alongside Josue Lopez and his squad to marque El Salvador a planetary unit successful renewable vigor production,” Tether’s CTO Paolo Ardoino said connected Monday.

Josue Lopez, CEO of Volcano Energy, stated connected Monday that 52% of the existing bitcoin mining operations utilize sustainable and renewable vigor sources. “We judge this percent volition importantly summation successful the coming years, done important investments similar ours,” Lopez said. “Not lone is ‘Volcano Energy’ important for the aboriginal of bitcoin resiliency, it’s besides an important motion of the caller important relation that El Salvador plays successful the planetary tech environment.”

What bash you deliberation astir Tether investing successful El Salvador’s Volcano Energy? Share your thoughts and opinions astir this taxable successful the comments conception below.