A hydroelectric power station in Costa Rica, rich in cheap and clean energy, has been redesigned to power several crypto mining facilities.
According to Nicholas Pongratz of BeinCrypto, the Central American country will power several crypto mining facilities with a redesigned hydroelectric power station. As it is known, after the migration of Chinese miners to various regions around the world, many energy efficient and moderate state policies emerged as a center of attraction for miners. Costa Rica has emerged as one of these regions due to its cheap, clean energy and efficient internet connection.
Powered by the Poas River, about 35 kilometers from the Capital, San Jose, the facility powers eight containers that fuel more than 650 devices. The facility had also recently started powering its mining operations, after the country stopped purchasing electricity during the pandemic due to plentiful power supplies. The power plant owned by the hydroelectric company is worth 13.5 million and represents one of three facilities with a capacity of three megawatts. The family business, which also owns a 60-hectare farm data center, has invested $500,000 to host computers to be used in mining.
President Eduardo Kooper thinks Costa Rica could be an ideal location for international crypto mining, as it is rich in clean and cheap energy. According to him, the government should work on attracting more crypto mining businesses to the Central American country: