U.S. cannabis processing giant Generation Hemp enters the Bitcoin mining sector

2023-01-13 08:00:38

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ChainCatcher News, the American cannabis processing giant Generation Hemp Inc. has renamed itself Evergreen Sustainable Enterprises, Inc., as it focuses on new sustainable energy projects, with its first project involving a Bitcoin mining operation in Costa Rica.

According to a press release, the company has acquired an 80% stake in Toro Energía Sociedad Anonima through its subsidiary Cryptorica, LLC. Toro owns a hydroelectric dam in Costa Rica, which generates power to support Bitcoin mining rigs. Hydropower is a clean, renewable energy source that is more reliable and cost-effective than other energy sources, helping to reduce the carbon footprint of mining.

Additionally, Toro's previous owners, Eduardo Kopper and Roberto Kopper, will retain a 20% ownership stake and continue to oversee the Bitcoin mining operations. (Source link)

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