{"id":85351,"date":"2023-10-04T18:04:55","date_gmt":"2023-10-04T15:04:55","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=85351"},"modified":"2025-09-12T22:46:06","modified_gmt":"2025-09-12T19:46:06","slug":"el-salvador-launches-its-own-bitcoin-mining-pool","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/el-salvador-launches-its-own-bitcoin-mining-pool\/","title":{"rendered":"El Salvador launches its own Bitcoin mining pool"},"content":{"rendered":"

The Salvadoran government’s Bitcoin mining project Volcano Energy, in partnership with Luxor Technology, has presented the country’s first mining pool Lava Pool. Cointelegraph<\/a> reports.<\/p>\n

In the context of the public-private partnership, the entity has committed to paying 23% of net income to the government. The funds will be invested in energy infrastructure to sustain economic growth.<\/p>\n

Lava Pool will use Luxor’s mining software and the company’s hedging strategies to protect clients from market volatility risks.<\/p>\n

In June, the Salvadoran authorities announced the project<\/a> to mine the first cryptocurrency using renewable energy sources.<\/p>\n

In the first round of Volcano Energy’s financing totaling $1 billion, participated<\/a> by Tether\u2014the issuer of the stablecoin USDT<\/a>. The firm acts not only as an investor but also as an advisor.<\/p>\n

At the initial stage, the facility’s power consumption will be 241 MW, with a hashrate of 1.3 EH\/s.<\/p>\n

\\n<\/p>\n

\\”Our mission is to create a vertically integrated Bitcoin mining energy company, the value of which will grow for investors and all Salvadoran citizens,\\” said Gerson Martinez, Volcano Energy’s Chief Strategy Officer.<\/p>\n

\\n<\/p><\/blockquote>\n

\\n\\n<\/p>\n

In September 2021, El Salvador became the first country in the world to legalize<\/a> digital gold as a legal means of payment.<\/p>\n

\\n\\n<\/p>\n

Experiments with Bitcoin mining on geothermal volcanic energy by the state-owned company LaGeo began<\/a> in October of the same year.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Salvadoran government’s Bitcoin mining project Volcano Energy, in partnership with Luxor Technology, has presented the country’s first mining pool Lava Pool. Cointelegraph reports.<\/p>\n","protected":false},"author":1,"featured_media":85352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1278],"class_list":["post-85351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-el-salvador"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=85351"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85351\/revisions"}],"predecessor-version":[{"id":85353,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85351\/revisions\/85353"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/85352"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=85351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=85351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=85351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}