• Generation Hemp Inc. has rebranded to Evergreen Sustainable Enterprises, Inc. in order to focus on sustainable energy projects.
• Their first project is the purchase of 80% ownership in a Costa Rican hydroelectric dam that will be used to power new bitcoin mining machines.
• The move is an example of firms outside of Bitcoin mining entering the industry amidst a time of opportunity with the potential for high returns on investment due to low-cost energy.
Generation Hemp Rebrands as Evergreen
Generation Hemp Inc., the largest mid-stream hemp processing entity in the U.S., has renamed itself Evergreen Sustainable Enterprises, Inc., citing a new directional focus on sustainable energy projects.
First Project: Crypto Mining Operation in Costa Rica
Through its subsidiary, Cryptorica, LLC, the company has purchased 80% of Toro Energía Sociedad Anonima (“Toro”), a Costa Rican corporation with ownership of a hydroelectric dam in the country that will be used to power new bitcoin mining machines. Hydroelectric power is a clean and renewable energy source that is more reliable and cost-effective than other sources, and will help reduce the carbon footprint of the mining operation. Brothers Eduardo Kopper and Roberto Kopper, who are the current owners, will retain the other 20% ownership and will continue to host the bitcoin mining operation at their site located approximately 25 miles from San Jose between two volcano craters.
Opportunity for Returns on Investment
The move is an example of firms originally outside of Bitcoin mining entering the industry amidst a time of opportunity. With the price of Bitcoin ASICs being so far down, and many mining firms readjusting their strategy, well-capitalized businesses could see a major return on investment given they right decisions – including low-cost energy which this project takes advantage off. “All of our mining sites under development should generate immediate net cash flow to the company during a period when the bitcoin mining sector is down along with the overall capital markets,” said Gary C Evans, Chairman and CEO of Evergreen Sustainable Enterprises.
New Mining Machines Installed at Toro Dam
Eduardo Kopper commented that they are planning to install 300 brand new bitcoin mining machines over next few months at Toro location acknowledging that when price starts its upward trajectory they’ll be extremely well positioned.”Current mining site locations in development exceed six and include Arkansas Kentucky and Costa Rica,” he added further stating importance this project holds for them as it can generate net cash flow during bear market conditions .
Subsidiary Retains Original Operations & Staff
The original Generation Hemp Inc firm will become subsidiary of Evergreen retaining their original operations and staff , no changes have been made regarding staff or operations yet .