Volcano Energy plans to build a 241 MW renewable energy Bitcoin mine in El Salvador, Tether participated in the investment

The startup Volcano Energy plans to build a 241 MW renewable energy power generation park in El Salvador, including 169 MW of photovoltaic solar energy and 72 MW of wind energy and plans to build a bitcoin mining farm in the park. According to the statement, “The project, with a total commitment of $1 billion and an initial round of investment of $250 million, was initiated by Bitcoin industry leaders in collaboration with the world’s top developers and manufacturers of renewable energy technology and Bitcoin mining experts.” According to another report, Tether has participated in Volcano Energy’s $250 million first round of financing. The Government of El Salvador will play a key role in the planning and implementation of the program, guaranteeing priority participation of 23% of the proceeds. The remaining ownership will be distributed to investors and used to expand energy production capacity and advance Bitcoin mining.