Tether Joins $1Bln Partnership To Build World's Largest Crypto Mining Farm In El Salvador
Muhammad Irfan Published June 06, 2023 | 12:50 AM
MOSCOW (UrduPoint News / Sputnik - 06th June, 2023) Block chain company Tether announced on Monday its participation in a $1 billion investment project in El Salvador that aims to build the world's largest cryptocurrency mining farm.
The money will go toward a 241-megawatt renewable energy generation park in the northern municipality of Metapan, which will use solar and wind power.
"El Salvador has the highest geothermal energy production.
Located in the El Chiste hamlet within the municipality of Metapan, Santa Ana, the site chosen for this development will be divided between 169 MW of photovoltaic solar energy and 72 MW of wind energy," Tether estimated.
The site will create an immense computation power, allowing Bitcoin digital tokens to be mined more sustainably and increase the resilience of this energy-intensive activity, while making El Salvador a major global player in renewable energy production.
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