Tether invests in El Salvador’s $1B renewable energy project

Tether invests in El Salvador’s $1B renewable energy project



Stablecoin issuer Tether has revealed its partnership with El Salvador, a Bitcoin-friendly nation, to invest in a renewable energy initiative worth $1 billion. This move aligns with El Salvador's ongoing efforts to promote Bitcoin adoption since it became the first country to accept BTC as legal tender three years ago. The collaboration aims to establish a renewable power generation precinct in Metapán, leveraging solar and wind energy to fuel and monetize Bitcoin mining operations.



Tether, along with other investors, will contribute to the initial capital raise for the development of Volcano Energy, a forthcoming 241-megawatt renewable energy park. Located in Metapán, the park will consist of 169 MW of photovoltaic solar energy and 72 MW of wind energy. The electricity generated will be utilized by Bitcoin mining farms in El S


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#Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Energy, #EnergyProject, #News, #Regulations, #Salvador, #Tether

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