El Salvador continues to make strides in the cryptocurrency world with the launch of its first Bitcoin (BTC) mining pool.
Volcano Energy, which launched its Bitcoin mining project in June, has partnered with Luxor Technologies to establish the country’s first Bitcoin mining pool called Lava Pool.
Lava Pool’s goal is to decentralize Bitcoin mining and take advantage of El Salvador’s regulatory clarity.
Mining pools are groups of Bitcoin miners who combine their computing power to increase their chances of coming across a Bitcoin block.
Additionally, Lava Pool aims to be the most affordable option for small miners.
Luxor, which owns 3.3% of the network’s total hash rate and is one of the top ten pools worldwide, will receive a nominal fee from Lava Pool for its management services.
Volcano Energy is currently building BTC mining facilities in Santa Ana, one of the western regions of El Salvador. These facilities will use renewable energy sources such as wind and solar energy. The project is expected to generate 241 MW of renewable energy, some of which will be used to mine Bitcoin and provide affordable energy to local communities.
Source:en.bitcoinsistemi.com
