Generation Hemp Inc., an American hemp processing company, recently rebranded as Evergreen Sustainable Enterprises Inc. With this, they also want to indicate that sustainable energy projects will be their focus from now on. Their first such project will be the launch of a bitcoin mining operation in Costa Rica.
Evergreen is getting serious regarding bitcoin mining
About the move press release also published, according to which one of their subsidiaries, Cryptorica LLC, purchased an 80% stake in the Costa Rican company Toro Energía Sociedad Anonima. Toro owns a hydroelectric plant in the country and the energy from this plant will be used to operate bitcoin mining machines. By the way, hydropower plants are even considered the best among sustainable energy sources, and moreover, they provide particularly stable and reliable production. Toro’s original owners, Eduardo and Roberto Kopper, will retain a 20% stake and participate in bitcoin mining operations. The Toro-owned power plant and dam itself is 45 kilometers from San José, Costa Rica, between two volcanic craters. In recent years, it has consistently delivered 98% performance under the supervision of a full-time staff.
So it can be seen that the bitcoin mining sector continues its transformation. Companies that have not had anything to do with mining until now are entering the sector. Mainly because they have access to very cheap and sustainable sources of energy. The price of mining machines has dropped, so if someone can keep the energy costs low, they can still make a profit even with low BTC prices. According to the CEO of Evergreen Sustainable Enterprises, they will be able to make a profit immediately following the start of mining operations. In addition to Costa Rica, the company will soon mine BTC in five more locations, such as Arkansas and Kentucky. So, 300 brand new machines will be put into operation in Toro, which will bring a good profit to the company even with the BTC price of around 16 thousand dollars, and if the exchange rate moves up, then the situation will be even better.
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