Tether Partners with Volcano Energy to Establish the Largest Bitcoin Mining Facility Globally

• Volcano Energy will concentrate on incorporating wind and solar initiatives within the volcanic area.
• Tether aims to establish itself as the foremost provider of global renewable energy.

Tether, the issuer of the largest stablecoin by market capitalization (USDT), has revealed its participation in the initial phase of a new billion-dollar renewable energy project in El Salvador. Additionally, it plans to invest $1 billion to construct the largest Bitcoin mining farms globally.

Tether Energy is reinforcing its commitment to #bitcoin with our investment in Volcano Energy in El Salvador We’re promoting sustainable Bitcoin mining and aiding El Salvador’s economic development
Learn more https://t.co/PlJ2yRhPR8 pic.twitter.com/fnpWuZW95t

— Tether (@Tether_to) June 5, 2023

On June 5, Tether issued a press release announcing that Tether Energy is intensifying its investment in Bitcoin through Volcano Energy. This initiative involves a 241 MW renewable generation facility in El Salvador. Through this investment, Tether seeks to contribute significantly to the establishment of one of the largest Bitcoin mining farms in the world.

The press release indicates that Volcano Energy will prioritize the integration of wind and solar projects in the volcanic region to develop one of the largest Bitcoin mining farms globally. Tether will assist in the advancement of Volcano Energy and will also provide its hardware, communication, and energy resources to establish Volcano Energy.

Tether Aims to Lead the Way for Bitcoin Mining

El Salvador boasts the highest geothermal energy output in Central America. For the construction of the new Bitcoin mining farm, the project developers selected a location in the El Chiste hamlet within the municipality of Metapan. Furthermore, the farm is anticipated to deliver an initial computational power exceeding 1.3 EH/s.

Paolo Ardoino, the chief technology officer at Tether, expressed that Tether is pleased to be among the early innovators in renewable energy in El Salvador as both an investor and advisor. Additionally, this investment furthers Tether’s efforts to diversify its strategic ecosystem.

Tether is convinced that the long-term viability of the Bitcoin network can be achieved through energy innovation, competitiveness, and geographical expansion. Furthermore, Tether aspires to become the leading provider of global renewable energy and mining infrastructure by supporting Volcano Energy.