Tether announced on June 5 that it is investing $1 billion to build El Salvador’s largest Bitcoin mine. The company stated that they had taken part in the first round of this $1 billion effort in El Salvador and that its focus is on renewable energy for Bitcoin mining.

Volcanic Energy for Bitcoin Mining

El Salvador has spoken before about the Bitcoin mining site, which taps into its volcanic energy. The site will produce 241 Megawatts renewable electricity at Metapan.

Tether said that in addition to funding, it would bring its expertise in energy, communications, hardware and hardware to help build Volcano Energy.

“The effort is being led by Paolo Ardoino,” said the Chief Technology Officer of Tether,.

We are proud to be equity investors and advisors in El Salvador’s pioneering renewable energy industry. Volcano Energy is one of our most innovative and strategic investments. We look forward to working with Josue and his team in order to make El Salvador the global leader in renewable energy production. This investment continues Tether’s journey to diversify its strategic ecosystem.

Ardoino said El Salvador had a huge potential and referred to it as a Bitcoin nation. He also stressed that the ‘current size of…investment is contained and well within Volcano Energy’s own excess reserves so it’s taken from the reserves back the issued tokens’

Tether boosts sustainable bitcoin mining efforts

Tether appears to be aiming for a sustainable, long-term effort to support mining. Tether is a good branching out from its main business USDT but renewable energy infrastructure in mining seems to be a play that it is doubling down on.

The switch to sustainable mining is becoming more apparent as the months pass. It announced late last month that it was investing in energy production and starting an environmentally friendly Bitcoin mining operation.

El Salvador Is Making Headlines

Tether has supported El Salvador’s past initiatives. Ardoino said that sometimes he wished that

“European countries will be as technologically advanced and independent as El Salvador in terms of financial independence.”

El Salvador is also making changes to crypto regulations. In November of last year, Nayib Bukele ordered changes to stablecoin regulations. It was explicitly included in an effort to make other assets in the country more tolerated.