Despite the Bear Market, a Salvadoran Wants to Build a USD 200M Power Plant to Mine Bitcoin - Aliens: AI Crypto News & Markets Updates
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Despite the Bear Market, a Salvadoran Wants to Build a USD 200M Power Plant to Mine Bitcoin

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Cryptonews

Thu, Jun 30, 2022

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A wealthy expat Salvadoran is set to fund a USD 200m solar-powered Bitcoin (BTC) mining facility – and appears to have the backing of the government.

López, Mayorga explained, manages a “multi-million dollar” fund that he wants to use to “invest USD 200 million in a project that includes a facility that mines bitcoin and a photovoltaic plant.” The facility would, if López gets his way, be based in Nueva Concepción, in the Northern Salvadoran town of Chalatenango.

The plant generates electricity from the nation’s volcanoes – and Bukele has dubbed the facility the “volcanode.” ____ Learn more: - Bukele Showcases Bitcoin City Plans and ‘Buys the BTC Dip’ Amid Stark Warning - First Volcano Bitcoin Mined, Says El Salvador’s President - El Salvadoran Government to Back New Token, Bukele Says ‘Don’t Panic’ About Falling Bitcoin Prices - El Salvador’s Finance Minister ‘Laughs off’ Claims of USD 40M Bitcoin ‘Losses’ - El Salvador-hosted ‘44-nation Bitcoin Conference’ Not Quite a Nothing Burger - Critics Say El Salvador Could Default on Conventional Debts Before it Even Issues Bitcoin Bonds

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