A small river in the middle of coffee plantations, sugar cane fields and a forest provides energy to a hydroelectric power plant in Costa Rica that feeds hundreds of computers wired up to the cryptocurrency mining business.
More than 650 machines from 150 customers operate non-stop from eight containers powered by the plant next to the Poas River, from San Jose, which generates nearly all its energy from green sources.
“We had to pause activity for nine months, and exactly one year ago I heard about Bitcoin, blockchain and digital mining,” said The President of the family business that owns the 60-hectare farm Data Center CR and the plant.
“I was very skeptical at first, but we saw that this business consumes a lot of energy and we have a surplus.”
The hydroelectric company, with its three plants valued at US$13.5 million and a three Megawatt capacity, invested US$500,000 to venture into hosting digital mining computers.
The President said international cryptocurrency miners are looking for clean, cheap energy and a stable internet connection, which Costa Rica has plenty of. However, he said Costa Rica’s government should be more aggressive about trying to attract more crypto mining business.
Crypto Mining In Costa Rica
Perhaps Costa Rica is taking its cue from its regional neighbor El Salvador, which became the first country in the world to adopt Bitcoin as legal tender last September. While Costa Rica has no such drastic plans of its own yet, the central bank prioritized providing space for technological innovation, hoping to enable the development of a domestic Fintech industry.
While the government takes its time to reflect on how a larger strategy can draw in further participants, Data Center CR will continue to service local customers.