El Salvador partnership to build $1 billion bitcoin mining farm

A public-private partnership in El Salvador will pump $1 billion into creating one of the world's largest bitcoin mining farms, the group called Volcano Energy announced on Monday.

Timeline of Bitcoin

Franklin Templeton, one of the world's largest asset managers with over $1.5 trillion in assets under management, plans to invest heavily in Bitcoin as well as its underlying technology.

The cryptocurrency ecosystem is seeing a rapid fall after the latest bombshell featuring the lawsuit filed against the world's largest crypto trading platform Binance by the United States Securities and Exchange Commission (SEC). The news has unsettled the market with Bitcoin (BTC) price recording a sharp drop of 6.21% as it fell to $25,943.88.

El Salvador is embarking on an initiative to establish a renewable energy power generation park in the Metapán area, aiming to become a center in the global bitcoin mining industry.

In the wake of Asia's trading day, the cryptocurrency market showcases a subtle yet noteworthy shift. Bitcoin has experienced a modest 0.1% increase, reaching $27,109, while Ether has seen a slight dip, settling at $1,890.

El Salvador continues its dedication to becoming a global leader in the Bitcoin mining industry through the development of its ambitious Volcano Energy project. The country plans to add 241 MW of renewables and 1.

Detroit-based Benzinga, a media and data provider bridging the gap between retail and institutional investors, sent its team to Miami, Florida, for Bitcoin 2023. During that time, Benzinga sought to recognize the innovation in digital assets broadly and spoke with founders, investors, and others.

Quick Take A futures contract is an agreement between two parties to buy or sell an asset (in this case Bitcoin) at a predetermined price at a specific future date. These are used for hedging risk or speculating on price changes.

More than 92% of the total amount of Bitcoin (BTC) has been mined as of today. But ChatGPT is predicting what will happen when the halving cycles end and supply is eventually exhausted.

Continued enthusiasm for Bitcoin (CRYPTO: BTC) from individual investors is expected to persist over the upcoming year, leading up to the cryptocurrency's next halving event, according to a recent research paper published by JPMorgan Chase & Co (NYSE: JPM). The research report credits the recent surge in retail interest in part to the emergence of Bitcoin Ordinals and BRC-20 tokens, Coindesk reported.

Bitcoin (BTC) has dropped about 2% over the last 24 hours and is once again below $27,000 as investors continue to consider the effects of the U.S. debt ceiling agreement and last Friday's strong jobs report.