El Salvador launches local Bitcoin mining pool

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El Salvador launches local Bitcoin mining pool

El Salvador, a leading provider of Bitcoin BTC/USD as its national currency, is launching its first local Bitcoin mining pool, Lava Pool.

Volcano Energy is leading the project in collaboration with Luxor Technologies, which is renowned for its expertise in providing Bitcoin mining software and services.

Luxor's hashrate forward market will be used to employ automated risk management strategies to address market volatility, a significant challenge faced by major Bitcoin mining operators.

The future of digital assets conference, Benzinga said, will be a pivotal gathering for the digital assets community. The El Salvador government is expected to give Volcano Energy 23% of its net income from mining operations. Tether invested in El Salvador's $1 billion renewable energy initiative in early 2023, which will contribute to generating electricity from renewable sources andthereby support the Bitcoin mining operations.

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