Digital mining has become an alternative to boost cryptocurrency operations around the world. In Costa Rica, this model is being strengthened in harmony with the environment.
Various private sector firms have committed to making our country a global benchmark for sustainable cryptomining, executing processes based on clean energy at low cost. An example of this is the alliance formed by the company Datacenter CR and the transnational “Evergreen Sustainable Enterprises” through which the latter, through a shareholding operation, will be able to expand its digital mining operations in Costa Rica from energy obtained by hydroelectric generation from a plant located in Bajosdel Toro, province of Alajuela.
In Costa Rica, more than 90% of electrical energy is produced from clean sources
“The transaction represents an opportunity not only for renewable energy producers, but for the country. Costa Rica can be one of the leaders in green Cryptomining production in the world”, said Eduardo Kopper CEO of DataCenter CR. And it is that this business of the new industry 4.0 has been characterized by requiring a high consumption of energy from hydrocarbons for its operation.
“Cryptomining currently represents 0.5% of global electricity consumption, which makes it a true energy devourer”, explains Carlos Meléndez, coordinator of the Fintech chapter of the Chamber of Information and Communication Technologies (Camtic). However, it is also a generator of opportunities to generate income in places with surplus electricity, according to the expert, turning this activity into a fresh source of income for private generators unable to export energy or who must negotiate it at prices rigorously established by the State, as in Costa Rica.
“Analyzing it from a cause and effect point of view, due to the high costs of cryptomining, those who carry out this activity should look for places where energy is as cheap as possible and this is where a great opportunity opens up for those nations,so that they can generate energy as drinkable as possible”, comments economic analyst Daniel Suchar.
Currently, a bill presented by the deputy Johana Obando, of the Progressive Liberal Party, is in plenary, waiting to be discussed, which seeks to regulate the different activities related to the transaction of crypto assets in different aspects.