Crypto Mining Revives Costa Rica Hydro Plant Efforts

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A small river in the Costa Rican countryside powers a hydroelectric power plant that supplies hundreds of computers connected to the cryptocurrency mining business.

Around 650 machines from 150 customers work around the clock in eight containers powered by the plant adjacent to the Poas River, 35 kilometers from the capital, San Jose.

Costa Rica generates almost all of its energy from green sources.

After three decades, the plant had to reinvent itself after the government stopped buying electricity during the pandemic because of excess power supply.

The $13.5 million hydropower company, which has a capacity of three megawatts, invested $500,000 to switch to hosting digital mining computers.

Eduardo Kooper, president of the family business that controls the 60-hectare farm Data Center, said international cryptocurrency miners are hunting for cheap energy and stable Internet that Costa Rica can readily offer and called on the government to be more aggressive in attracting more crypto mining business.

Currently, all Data Center CR customers are locals.

The central bank of Costa Rica said it was interested in giving more room for technological innovation to allow a fintech industry to flourish in the Central American country.

For more information, read the original story in Reuters.

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