Lava Pool is the first Bitcoin mining pool installed in El Salvador by the companies Volcano Energy and Luxor Technology Corporation.
Bitcoin mining pool Lava Pool is the first to be powered by geothermal energy from volcanoes in El Salvador.
Gerson Martinez, CSO of Volcano Energy, highlighted that Lava Pool takes advantage of the abundant geothermal energy that exists in the country, in order to promote the transformation of El Salvador into an international benchmark in renewable energy and Bitcoin mining.
Lava Pool is powered 100% by renewable energy from volcanoes and, according to Martinez, represents a Symbol of the advantages of early Bitcoin adoption at the national level.
In September 2021, El Salvador passed the Bitcoin Law, making Bitcoin legal in the country and launching different initiatives and projects focused on expanding the adoption of the cryptocurrency. Since then, El Salvador has been delving deeper into the Bitcoin ecosystem to take advantage of its many advantages to stimulate its economy and accelerate its technological and social transformation.
A Bitcoin mining pool to transform the lives of Salvadorans
According to Martinez, Lava Pool is part of the goals of El Salvador and the Volcano Energy company to create an energy and Bitcoin mining company that is vertically integrated, “whose value is cumulative for investors and for all Salvadoran citizens.”
According to him, Bitcoin mining is a complement that reinforces the potential of new energy projects, since BTC miners are considered exceptionally flexible consumers of energy, thanks to their unique features and capabilities. For example, Bitcoin miners are portable and agnostic, they can quickly connect and disconnect from the network and, among other things, they have modular energy consumption, so they adapt to the available energy generation capacity.
Also, Bitcoin miners in various parts of the world are currently focusing on consuming surplus or wasted energy to make more useful and efficient use of it instead of just wasting it.
In El Salvador, the goals are similar, to innovate in the potential of Bitcoin mining in order to take advantage of the country's enormous geothermal potential and generate new sources of income that contribute to economic development and social well-being.
El Salvador consolidates its plan to mine Bitcoin
Although El Salvador has been mining Bitcoin from La Geo for some time, the launch of Lava Pool represents a momentous milestone in its plan to integrate Bitcoin into the country's energy infrastructure.
In July, the government of El Salvador unveiled an ambitious plan to build the world’s largest clean-energy Bitcoin mining farm, which will operate 20.000 megawatts (MW) of power when fully installed. In addition to this, the government also revealed its plans to build the first domestic Bitcoin mining pool. Both projects are being driven by the Volcano Energy company with the government of El Salvador as a founding party, which will receive a share of the profits generated by these projects.
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