El Salvador partnership to build $1 billion bitcoin mining farm


FILE PHOTO: Souvenir tokens representing cryptocurrency Bitcoin plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/

SAN SALVADOR (Reuters) - A public-private partnership in El Salvador will pump $1 billion into creating one of the world's largest bitcoin mining farms, the group called Volcano Energy announced on Monday.

The project will start with an initial $250 million, backed by "key Bitcoin industry leaders" in collaboration with renewable energy developers, Volcano Energy said in a statement.

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