Photo: ru.freepik.com
It is known that the city is planned as a tax-free settlement, which is funded by bitcoin mining. The publication clarified that the funds for the project were provided by the Turkish holding company Yilport.
The money will be used to modernize and build two seaports in El Salvador — Acajutla and La Uniona, which will be the largest private investment in the country's history. The first facility handles most of the exports of coffee, sugar and balsamic salt from Peru, the second is located where Bitcoin City is planned to be built, and is still inactive.
Note that the creation of a bitcoin city in El Salvador was announced in November 2021. It is planned that the mining installations in it will be powered by the energy of volcanoes, and not by the civil power system.
Recall that in May it was reported that El Salvador had mined $ 30 million worth of bitcoins. Mining of these coins was carried out on the energy of volcanoes.
