Today, Volcano Energy and Luxor Technology Corporation have officially unveiled Lava Pool, El Salvador’s inaugural Bitcoin mining pool powered by abundant renewable geothermal energy. Volcano Energy, a unique public-private partnership committed to contributing 23% of its net income to the Salvadoran government, will exclusively mine blocks through Lava Pool.
“Lava Pool is another example of El Salvador’s first mover advantage as a nation-state in the Bitcoin ecosystem,” said Volcano Energy’s CSO, Gerson Martinez. “Our vision is to create a vertically integrated energy and bitcoin mining company whose value is accretive to investors and to all Salvadoran citizens. We are thrilled to launch Lava Pool in partnership with Luxor Technology, an industry leader in developing bitcoin mining products and services for miners—from plebs to nation states.”
Luxor’s Hashrate Forward Marketplace will equip Volcano Energy with hedging strategies already adopted by leading participants in the Bitcoin mining market to protect Lava Pool against market volatility.
“The ethos of Bitcoin mining revolves around geographical decentralization, and the development of mining pool infrastructure in El Salvador will contribute to this goal,” commented Luxor’s COO, Ethan Vera. “We’re excited to partner with Volcano Energy to launch Lava Pool and to support their mission in El Salvador and Latin America more broadly.”by