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Volcano Energy said the funds would go toward developing a 241-megawatt power generation park. A public-private partnership in El Salvador pledging to pump $1 billion into creating a Bitcoin (BTC) mining farm has received its first $250 million. This first release of funds kickstarts a 241-megawatt (MW) power generation park in the country’s Metapán region. Volcano Energy, the company behind the site, said the funds would go toward developing the power generation park using solar and wind energy, which will eventually power the Bitcoin mining operation. Volcano Energy chairman Max Keiser took to Twitter on June 7 to announce the news. .@Volcano_Energy receives the first $250M of a $1 billion commitment that kickstarts 241 MW’s of #Bitcoin mining in El Salvador. “We Got The Power” https://t.co/j2wE6UJq0O pic.twitter.com/db3PZvFo4q — Max Keiser, sr. bitcoin advisor pres. Bukele (@maxkeiser) June 7, 2023 Bitcoin mining uses high-power computers hooked up to a global network, usi...

Core Scientific, Riot, and CleanSpark led the way in increasing Bitcoin production in January helped by better weather conditions and stable electricity prices. The first production update of 2023 from publicly listed Bitcoin (BTC) Mining companies shows a steady increase in Hash Rate and a surge in BTC production compared to the previous month, according to a new Analysis from Hashrate Index.  The majority of public miners increased their bitcoin production in January, with CleanSpark boosting it by 50%, reaching a record monthly production of 697 Bitcoins. Leading the BTC production, Core Scientific reached 1,527 coins mined in January, followed by Riot, the second-biggest producer, mining 740 Bitcoins in the month. Marathon and Cipher have seen significant increases in Bitcoin production, reaching 687 and 343 Bitcoins generated, respectively, compared to 475 and 225 in December. Public Miners: Monthly Bitcoin Production. Source: Hashrate Index and Luxor According to Bitcoin min...