Hydroelectric power plant in Costa Rica used excess electricity for mining – Bits Media

Power plant on the Poas River near the capital of Costa Rica, city ​​of San Jose, lost some profits during the pandemic, when the government started buying less electricity. The station owner found a use for unclaimed electricity.

Thirty years station worked without failures, but in the spring 2020 year, the company had to close for nine months, said the owner of the hydroelectric power station Eduardo Cooper:

"After a long period of inactivity, exactly a year ago, I heard about Bitcoin and mining. I was skeptical at first, but then I saw, how much electricity does this business consume and understand: we have everything, what is needed".

His company Data Center CR invested 500 thousands of dollars into mining equipment and began to mine cryptocurrencies. The conditions turned out to be ideal. According to Cooper, Costa Rica has it all, what miners dream about: cheap electricity and stable internet connection. The businessman is confident that the government should more actively develop cryptocurrency mining in the country.

Now this business in Costa Rica is almost not regulated by law.. Mining is carried out only by the local population. However, the country's Central Bank has already announced, which supports the development of technological innovation and fintech.