Volcano Energy Launches First Bitcoin Mining Pool in El Salvador
Volcano Energy announced a strategic partnership with Luxor Technologies to launch Lava Pool, the first Salvadoran Bitcoin mining pool. The company, a startup focused on harnessing renewable energies for Bitcoin mining operations in the country,
stated that it will only mine bitcoin through this new pool.
Volcano Energy, which came out of stealth mode in June,
announcing a Tether-backed $1 billion investment, is building a 241-megawatt (MW) renewable energy mining facility in Metapan using photovoltaic (solar) and eolic (wind) energy.
He also explained that another advantage that the country brings for establishing a Bitcoin mining pool is the existence of clear regulations, given that he considers
El Salvador as
“the only country with the regulatory clarity and the business climate that provides stability and predictability for Bitcoin businesses.”
Luxor, which operates one of the top ten Bitcoin mining pools,
will provide Lava Pool participants with bitcoin hedging strategies to mitigate losses in the case of market volatility. The company stressed that it supported the decentralization objective of El Salvador with this move.
