Golden Finance reported that the Salvadoran authorities’ Bitcoin mining project Volcano Energy partnered with Luxor Technology to launch the country’s first mining pool, Lava Pool. Volcano Energy is leveraging Luxor’s experience in providing Bitcoin mining software and services. The project will also leverage Luxor’s hashrate forwards market to mitigate market volatility through automated risk management strategies used by other major Bitcoin mining operators. . As a public-private partnership, Volcano Energy will contribute 23% of the net income from its mining operations to the El Salvadoran government. Mining profits will also be reinvested in energy transmission and infrastructure to stimulate economic and technological growth in the Central American country.
