Last week, Tether announced it will be investing $1 billion in a renewable energy park in El Salvador. The stablecoin joins other investors in a first-round capital raise to develop a renewable energy park in Metapan, El Salvador.
At the same time, upstart DeFi project, HedgeUp (HDUP), continues to blaze through its presale.
Tether invests in El Salvador
The Bitcoin-friendly nation, El Salvador continues its push to drive Bitcoin adoption. One of its latest efforts is sustainable Bitcoin mining. This includes plans to build a renewable energy park in Metapan.
The park has been dubbed Volcano Energy. The power produced will be used by Bitcoin mining farms that are also located in El Salvador. This move aims to address one of Bitcoin’s mining biggest criticisms – its high levels of emissions.
Tether is among the stakeholders investing in the development of Volcano Energy. The company estimates that the energy park’s computational power will surpass 1.3 exahashes per second, which would put it in the top 20 Bitcoin (BTC) mining pools operating worldwide.
The stablecoin issuer says it is intent on driving investment in mining infrastructure and renewable energy production. With an increasing amount of Bitcoin mining being done with renewable energy, experts believe that developments like this will significantly drive the adoption of sustainable energy in cryptocurrency mining.
HedgeUp raises $3M in presale stage 4
In other news, things are looking good for the HedgeUp (HDUP) presale. The presale has been going on since April and is now in the fourth stage. So far, it has sold more than 180 million tokens and raised just over $3 million. The goal is to reach $4.17 million before moving on to the next stage.
The price for the current round is set at $0.036. When the project achieves its funding goals, it will move on to the fifth round. This will see the price of a single HDUP token bumped up to $0.044. The price increase represents a 22% return on investment (ROI) in itself, which will be one of the highest in the market.
The HedgeUp (HDUP) presale will last a total of eight rounds. It is being used to raise funds for the development of the world’s first NFT alternative investment trading platform. This is a marketplace where people can invest in alternative assets like artwork, diamonds, gold, jewelry, and more by trading asset-backed NFTs.
According to the HedgeUp (HDUP) team, the project’s goal is to make investing in alternative assets easier. HedgeUp (HDUP) considers alternative assets to be a good investment instrument because of their relative stability in value and potential for returns.
By leveraging tokenization to bring these assets on-chain, the project says it will make investing in them accessible and convenient. Coupled with the rest of the ecosystem that HedgeUp (HDUP) is building, this will bring tremendous value to investors.
The HedgeUp (HDUP) presale will go on for four more stages. The price at the last stage is set at $0.0887. For investors who buy the presale now, this represents a 146% ROI.
For more information about HedgeUp (HDUP) presale use the links down below:
- Website: https://hedgeup.io/
- Presale: https://app.hedgeup.io/sign-up
- Telegram: https://t.me/HedgeUpChat
- Twitter: https://twitter.com/HedgeUpOfficial