Alphaxioms Geothermal News and Related Research Globally

El Salvador Mines 474 Bitcoin Worth $29 Million with Volcano-Fueled Geothermal Power By:  Robert Buluma El Salvador is revolutionizing cryptocurrency mining by harnessing the natural power of its volcanoes. Since 2021, the Central American nation has mined an impressive 474 Bitcoins using geothermal energy derived from the Tecapa volcano, valued at approximately $29 million at current Bitcoin prices.   A Renewable Energy-Powered Breakthrough   This groundbreaking initiative is part of El Salvador’s larger strategy to merge cryptocurrency with renewable energy. Geothermal energy, which accounts for 25% of the country's electricity production, plays a crucial role in powering these operations. The state-owned geothermal company, LaGeo, operates two major plants that generate a combined 204 megawatts of power. From this capacity, 1.5 megawatts are used to sustain the mining of Bitcoin, a process often criticized globally for its energy consumption and environmental...

Powering the Future: Star Energy Group Bold Move Towards Geothermal Energy By: Robert Buluma In a groundbreaking move towards sustainable energy, Star Energy Group (AIM: STAR) has just announced the closing of a new €25 million secured facility with Kommunalkredit Austria AG (Kommunalkredit). This financial boost marks a significant step in Star Energy's transition strategy, particularly focusing on geothermal energy while maintaining investments in conventional oil and gas businesses. Chris Hopkinson, the CEO of Star Energy expressed his excitement, stating, "Securing this facility is an important milestone for Star Energy. It allows us to use cashflows from our existing oil and gas business to optimize near-term conventional production and deliver our transition strategy; namely developing and monetizing our geothermal business in both the UK and Croatia." Evidently,Oil and gas companies have been going Geothermal and Today we've found a new neighbor What makes th...

Unlocking Green Energy: EDC P10-B Fixed Rate Bonds By: Robert Buluma Nearly 20 kilometres outside of the city of Ormoc, The Tongonan-1 geothermal power plant sits in mountainous Kananga, Leyte in the Philippines’ typhoon belt. Image: EDC In a resounding nod to the future of sustainable energy, the board of Energy Development Corp.  EDC has given the green light to a groundbreaking initiative. Picture this: P10 billion in fixed-rate bonds earmarked for propelling green energy projects forward. It's not just a financial maneuver; it's a commitment to a greener, cleaner tomorrow. The Rise of Green Bonds Lopez-led First Gen Corp. subsidiary,  EDC is at the forefront of this movement. Their P10-billion offering marks the second tranche of a larger P15-billion shelf-registered ASEAN green bonds. This isn't just about raising capital; it's about rallying investors behind a cause that transcends profit margins. The first tranche, a modest P5 billion, saw overwhelming demand,...