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, with their first project involving a bitcoin mining operation in Costa Rica. 

According to a press release, 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.

“The Toro Dam is located approximately 25 miles from San Jose between two volcano craters,” states the release. “The site generates all its energy from green resources with a proven 98% run time over the years, and has a full-time staff in place under a new Operating & Maintenance Agreement.”

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…