Volcano Energy, a Bitcoin mining project launched by the authorities of El Salvador, has just presented in partnership with Luxor Technology Lava Pool, the country's first mining pool.
The structure has reportedly committed as part of the cooperation to contribute 23% of net revenues to the government, which will be invested in energy infrastructure to support economic growth.
Subscribe to our Telegram channel to get weekly short digests about events that shape the crypto world
Lava Pool will use Luxor's mining software and the company's hedging strategies in order to protect clients from the risks of market volatility.
The authorities in El Salvador announced in June a project focused on mining Bitcoin using renewable energy sources.
Tether, the issuer of the stablecoin USDT, participated in Volcano Energy's first round of financing.