What Volcano Energy does

Volcano Energy is a renewable energy-powered Bitcoin mining company founded in 2023 and structured as a public-private partnership in El Salvador. The company's core technology is a 241 MW hybrid renewable energy park under construction in the hamlet of El Shiste, municipality of Metapán, Santa Ana, combining 169 MW of photovoltaic solar generation with 72 MW of wind generation. This energy infrastructure directly powers an ASIC-based Bitcoin mining fleet with initial computational power expected to exceed 1.3 EH/s, a scale that would rank among the top 20 Bitcoin mining operations globally. The company has stated a long-term pathway to scale generation to 20,000 MW over approximately five years by transitioning to volcanic geothermal energy, leveraging El Salvador's resource endowment.

Volcano Energy generates revenue exclusively through Bitcoin block rewards and transaction fees earned by its own mining operations, with surplus renewable energy supplied to El Salvador's national power grid as a secondary commercial channel. The economics are governed by a defined revenue-sharing structure in which the Government of El Salvador receives preferred participation equivalent to 23% of revenues, outside investors retain 27%, and the remaining 50% is reinvested into expanding energy production and mining capacity. The project is anchored by a $1 billion total capital commitment, of which $250 million was deployed as the first tranche in June 2023, led by Tether as the primary strategic investor.

The company is led by Max Keiser as President, Josué López as CEO, Gerson Martínez as Chief Strategy Officer, and Stacy Herbert as co-leader, operating with a 1-10 headcount concentrated in El Salvador. Distribution is purely direct via on-site operations and grid interconnection rather than through third-party resellers or external service providers. Customers, in the traditional sense, are absent: the company's commercial counterparties are the open Bitcoin network and the Salvadoran power grid, both of which are deep, liquid, and non-concentrated, while its strategic counterparties (Tether, the Government of El Salvador) represent the primary counterparty risk concentration.

Name

Volcano Energy

Legal name

Volcano Energy

Website

https://volcano.energy

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

Volcano Energy is a 2023-founded El Salvador Bitcoin mining company operating a 241 MW hybrid solar and wind renewable energy park in Metapán to power ASIC-based Bitcoin mining, with a roadmap to scale to 20,000 MW using geothermal energy.

Ownership category

akta.pro rank

Product category

Bitcoin Mining Operations

NAICS

Solar Electric Power Generation (221114), Geothermal Electric Power Generation (221116), Electric Power Generation, Transmission and Distribution (2211)

SIC

Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Mining Infrastructure & Energy Procurement (Power, Cooling, Grid Services) (FSADAOAG)

akta.pro secondary industries

Electrical Balance-of-Plant EPC (MV Collection, Cabling, Earthing, Lighting) (EUAEADAB), Binary Cycle (ORC/Kalina) Geothermal Power Plants (EUACAHAC), Mining Software, Firmware & Monitoring Platforms (FSADAOAF)

Keywords

• Bitcoin mining operations
• Renewable energy generation
• Solar wind power
• Geothermal energy development
• Cryptocurrency infrastructure

Headquarters

HQ city

Metapán

HQ country

El Salvador

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Technology or R&D, Operations, Personnel, Supply Chain

Revenue model

1. Bitcoin Mining Revenue: Volcano Energy generates revenue by mining Bitcoin using renewable energy sources. The company operates Bitcoin mining equipment powered by its renewable energy park, earning block rewards and transaction fees from the Bitcoin network. Revenue is derived from the appreciation of mined Bitcoin and its eventual sale.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Volcano Energy is a renewable energy-powered Bitcoin mining company that operates a 241 MW hybrid renewable energy park (169 MW solar photovoltaic + 72 MW wind) in Metapán, El Salvador to power ASIC-based Bitcoin mining operations. The company mines Bitcoin for its own account, initially delivering over 1.3 EH/s of computational power, and supplies surplus renewable energy to El Salvador's national grid.

Product overview

Volcano Energy is a renewable energy and Bitcoin mining company operating a single core product: Bitcoin mining services powered by a 241 MW renewable energy park in El Salvador. The energy park combines 169 MW of solar photovoltaic and 72 MW of wind energy, with plans to expand to geothermal energy. The company also produces educational content through its podcast and blog platform. The offering is a unified Bitcoin mining operation, not a platform-plus-modules architecture.

Differentiator

Problem solved

Functional benefit

Products and services

• Volcano Energy Bitcoin Mining Operation A renewable energy-powered Bitcoin mining operation that uses solar, wind, and eventually geothermal energy to mine Bitcoin. Operates a 241 MW energy park in Metapán, El Salvador, with initial computational power exceeding 1.3 EH/s securing the Bitcoin network through proof-of-work mining and generating cryptocurrency revenue for the company and its partners.

Quantifiable outcome

• Initial computational power exceeding 1.3 EH/s, ranking among top 20 Bitcoin mining operations globally
• +2 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered flagship and core.

• Government of El SalvadorflagshipStrategic or Co-development Partner · 5 June 2023The El Salvador government plays a crucial role in the planning and execution of Volcano Energy, securing a preferred participation equivalent to 23% of revenues. The government provides regulatory support, land access, and strategic alignment with national Bitcoin adoption goals. The partnership is structured as a public-private initiative with the government overseeing the project.
• Max KeisercoreOthers · 5 June 2023Max Keiser, a renowned Bitcoin advocate, podcaster, and host of the Keizer Report, serves as president of Volcano Energy and advisor to President Nayib Bukele. He is a key industry leader bootstrapping the project and providing strategic direction.
• Josué LópezcoreOthers · 5 June 2023Josué López is a Salvadoran engineer who serves as CEO of Volcano Energy. He drives the development and execution of the project on the ground in El Salvador, coordinating between investors, government, and technical teams.
• Stacy HerbertcoreOthers · 5 June 2023Stacy Herbert is a co-leader of the Volcano Energy project alongside Max Keiser and Josué López, contributing to the strategic direction and public-facing activities of the initiative.
• Gerson MartínezcoreOthers · 5 June 2023Gerson Martínez serves as Chief Strategy Officer of Volcano Energy, participating in podcast interviews and strategic discussions about the company's plans and El Salvador's Bitcoin mining industry development.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Bitfarms: Vertically integrated Bitcoin miner with operations across the Americas, including Latin America. Comparable to Volcano Energy on its renewable-energy-led strategy and Latin American geographic footprint for low-cost mining.
• Marathon Digital Holdings: One of the largest publicly traded Bitcoin miners in North America. Comparable to Volcano Energy as a large-scale, hashrate-driven BTC miner pursuing energy diversification and renewables integration, although Marathon operates at much larger scale and across multiple U.S. sites.
• Riot Platforms: Public Bitcoin miner with multi-hundred-MW capacity across Texas facilities. Comparable to Volcano Energy on infrastructure scale, power-management focus, and pursuit of low-cost / renewable power strategies for ASIC mining.
• CleanSpark: U.S.-listed Bitcoin miner emphasizing renewable and grid-flexible power across multiple sites. Directly comparable to Volcano on its renewable-energy-led mining model and growth-by-acquisition playbook for hashrate expansion.
• Hut 8 Mining: Public Bitcoin miner with diversified energy and hosting exposure. Comparable to Volcano on its hybrid energy-and-mining approach and focus on operational efficiency in hashrate generation.
• Core Scientific: Large-scale Bitcoin miner and hosting provider that emerged from bankruptcy with restructured power contracts. Comparable to Volcano on its power-infrastructure-intensive model and reliance on long-term energy agreements for mining economics.
• Hive Digital Technologies: Public Bitcoin miner with a strong green-energy positioning across Canada and Sweden. Comparable to Volcano on its explicit renewable-energy narrative and ESG-aligned mining pitch to capital markets.
• Argo Blockchain: Public Bitcoin miner that has pivoted toward renewable-powered operations in Texas and Quebec. Comparable to Volcano Energy on its renewable-hydro/solar/wind mining strategy and focus on power-cost arbitrage as the core competitive advantage.
• Genesis Digital Assets: Private, large-scale Bitcoin miner operating industrial sites in North America, Europe, and South America. Comparable to Volcano Energy as a privately held, infrastructure-focused miner with multi-site renewable energy ambitions and similar scale targets.

Broad incumbents

• Northern Data AG: European-listed provider of HPC and Bitcoin mining infrastructure with significant renewable-powered capacity. Comparable to Volcano as a large-scale, energy-integrated mining operator pursuing green-energy sites across multiple jurisdictions.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Volcano_Energy
• Facebookfacebook.com/profile.php

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Volcano Energy