The post El Salvador Gets Its First Bitcoin Mining Pool – Lava Pool! appeared first on Coinpedia Fintech News
Volcano Energy is teaming up with Luxor Technologies to establish El Salvador’s first-ever Bitcoin mining pool called the “Lava Pool.” The project aims to decentralize Bitcoin mining in the country and take advantage of regulatory clarity, thanks to El Salvador’s recent move to adopt Bitcoin as legal tender. With a capacity of 241 MW, the mining pool will generate renewable energy that will be partially used for Bitcoin mining and provide cheaper power to the local communities. The initiative is a step towards reducing the environmental impact of Bitcoin mining while also bringing economic benefits to the region.