Since the adoption of bitcoin (BTC) as legal tender, El Salvador has become a hotbed for cryptocurrency investors and professionals. A situation of which the government of Nayib Bukele, the country’s president, is more than proud. Mining activity in this region, almost non-existent until now, is about to take a new turn.
Solar Powered Bitcoin Mining in El Salvador
On Twitter, Josue Lopez, a Salvadoran-born crypto entrepreneur, posted an impressive video. The images show a massive mining production infrastructure. According to Lopez, these are immersion coolers being shipped to El Salvador.
This operation is part of a project aimed at create a mining farm capable of producing 6 MW of electricity. In other words, it is about building a private solar power plant to mine bitcoin. This will be located in the department of Chalatenango, in the north of El Salvador.
A large-scale project
That said, the project, dubbed “Anchor I,” launched last June with an initial investment of $4 million. During the laying of the first stone, Milena Mayorga, Ambassador of El Salvador, was present. This gesture testifies to the support of the Salvadoran authorities for the said project.
The next step is “Anchor II”. It should start very soon. This is an educational program that aims to raise awareness of the benefits of immersion cooling and its importance to the future of mining in particular and cryptocurrencies in general.
El Salvador’s position on cryptocurrencies is very advantageous. As a result, investors do not hesitate to set up there to develop their business. On the other hand, the ecological issue is arousing growing enthusiasm among miners. In reality, reducing the energy consumption of mining activity has become a crucial issue for the adoption of cryptocurrencies.
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