Volcano Energy, a bitcoin mining company with the goal of exploiting renewable energy, was founded in El Salvador under the leadership of CEO Josue Lopez and president Max Keiser.
The company plans to build a multi-billion dollar renewable energy park in El Salvador and has found an investor in its first round of capital, Tether, with an investment of $250 million.
The mining camp location is located in the municipality of Metapán in the province of Santa Ana, El Salvador. The size of the mining farm has a total capacity of up to 241 megawatts (MW). This includes 169 MW of solar energy and 72 MW of wind energy. This output is expected to generate more than 1.3 EH/s of computing power. One EH/s is equivalent to one million billion hashes per second.
Tether said the money invested in this project comes from the company's business profits and is not related to the escrow fund for the issued USDT tokens.
