In a recent press release, Generation Hemp Inc., a Dallas, TX-based hemp processing company, has recently changed its name to Evergreen Sustainable Enterprises and acquired 80% ownership of Toro Energía Sociedad Anonima (TESA). This Costa Rican energy company operates a hydroelectric dam in the country’s central mountains, in addition to other renewable energy initiatives.
Generation Hemp will continue with its hemp processing operations as a subsidiary of Evergreen Sustainable Enterprises. Additionally, another subsidiary was formed called Cryptorica LLC, which will be responsible for the Costa Rican Bitcoin mining operation.
While the hemp processing industry remains Evergreen’s primary focus, the partnership with TESA’s hydroelectric dam has opened up new opportunities and possibilities through bitcoin mining that can be harnessed with renewable energy sources.
Hydroelectric power is a cost-effective, clean, and reliable form of renewable energy that can help reduce the environmental impact of mining operations. The bitcoin mining process is highly energy-intensive and it requires a large amount of power and electricity to operate.
With the dam’s source of renewable hydroelectric power, Evergreen Sustainable Enterprises is now in a position to mine bitcoin at a fraction of the cost compared to other mining operations that rely on non-renewable sources. This is also important to consider at a time when Bitcoin mining rewards are down across the board due to recent price action.
The hydroelectric dam is the source of approximately one megawatt of power coming from six generators. One megawatt of power is equivalent to 1 million watts or 1,000 kilowatts, which is enough power to supply electricity for around 1,000 homes. This is an impressive amount of power that Evergreen Sustainable Enterprises can now harness and use for bitcoin mining operations.
Eduardo and Roberto Kopper, brothers from a family that has owned and operated Toro Hydroelectric Dam for more than 3 decades, will retain 20% ownership of the dam. Their experienced team along with third-party hosting partners have converted this historic hydro dam into an innovative data center for bitcoin mining operations – swiftly pivoting to meet modern demands after all private power generation in Costa Rica was curtailed due to Covid conditions last year.
The Toro Dam is nestled between two volcano craters, 25 miles from the heart of San Jose. It’s an oasis for clean energy production – boasting a 98% run time yearly and meeting demands with its 24/7 onsite staff operating under a new agreement. Not to mention they monitor metrics like power price, humidity, and temperature in real time around the clock.
With the help of hydroelectric power, Evergreen Sustainable Enterprises is now able to explore bitcoin mining using clean and renewable energy sources. This venture opens up a wide range of possibilities in bitcoin mining as it can be done at a fraction of the cost compared to non-renewable energy sources. It’s also important to note that this bitcoin mining venture is not only beneficial to Evergreen, but also TESA and the brothers who own the hydroelectric dam. As bitcoin mining continues into the future, this renewable energy bitcoin mining operation will be yet another model of success for bitcoin miners around the world.
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