El Salvador is launching its first local Bitcoin mining pool, Lava Pool, led by Volcano Energy in association with Luxor Technologies. The initial phase of the project involves the construction of a 241-megawatt renewable energy park. Luxor’s hashrate forward marketplace will be used to manage risk against market volatility. Volcano Energy will contribute 23% of its net income from mining operations to the El Salvador government. In early 2023, Tether invested in El Salvador’s $1 billion renewable energy project to power the Bitcoin mining operations.