El Salvador has taken a pioneering step in the crypto landscape by launching its first Bitcoin mining pool, Lava Pool. Backed by 241 MW of renewable energy, the pool is set to decentralize mining operations and make affordable electricity accessible to its inhabitants. The initiative is driven by the nation’s utilization of renewable energy and its unique regulatory environment that fosters stability and predictability for Bitcoin enterprises.The mining pool is powered by a ‘Full Pay Per Share’ system, which ensures miners are rewarded proportionally to their hash power contribution, making it especially attractive for smaller miners. The venture is a partnership between Volcano Energy and Luxor Technologies, and is expected to produce 241 MW of renewable energy. This energy will not only fuel Bitcoin mining but will also be channeled to power local communities at economical rates.The Bitcoin network currently boasts a hash rate of 458.441 Ehash/s, and the persistent interest from miners, despite Bitcoin’s price fluctuations since 2021, underscores the growing confidence and commitment in the network.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 🇩🇪 🇨🇳 🇦🇪 🇸🇻 |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | Gerson Martínez, Ethan Vera, Collin Brown |
| Companies | SEC, Coinbase, FCA, CySEC, FINRA |
| Currencies | Ethereum, Bitcoin |
| Securities | None |
