Costa Rica has run on more than 98% clean energy over seven consecutive years, one of the highest rates of renewable energy generation in the world. Both private and public sectors actively engage in energy generation, being the hydroelectric energy the main source of energy in the country.

However, given that there is a monopoly on electricity distribution, only the Costa Rican Institute of Electricity (ICE) is authorized to sell or export it. In 2020, the ICE began canceling contracts from private generators due to a surplus power supply; therefore, private producers could no longer sell their green energy to anyone else.

In September 2020, while the world was facing a pandemic, Eduardo Kopper, a private energy generator, had to face the most challenging situation. His Company’s energy contracts were also canceled, and he could no longer sell green electricity. By law.

The hydroelectric plants had plenty of space, multi-million-dollar assets, and the capacity to generate clean energy at a low cost. If a direct sale was prohibited, why not rent “spaces” with “free energy”? But to whom?

With unique resources, assets, and team capabilities on their side, creativity was the key to solving the problem. Whenever there is an excess supply you need to find a market that is facing shortages. With that in mind, a thorough analysis of possible industries that might be suitable targets was performed.

The cryptocurrency mining market’s rapid growth was being challenged by its energy-intensive by design nature. According to Forbes, Bitcoin adds 40 million tons of carbon dioxide a year and according to the BBC, Bitcoin consumes more electricity than Argentina.

Mining crypto is expensive, not only for the hardware but for the energy costs. So, the Company used its cost advantage to start renting affordable spaces in custom containers to mine crypto and include the energy cost as part of the lease fee. Just what today’s environmentally conscious crypto miners are looking for.

The Company completed an overhaul of the business model to transform the defunct hydro plant into one of the world's first green crypto mining centers powered exclusively by water. A way to transform and future-proof not just the business but Costa Rica's entire approach to its clean energy surplus.

This solution not only saved the Company, but its proven scalability, provides the opportunity to use the energy surplus to potentially position Costa Rica as one of the top green crypto mining countries in the world.

The whole transformation of the first hydroelectric plant took only two months to be ready, 10 containers were installed to host 700 machines. Once the setup was completed, Data Center CR was born. The next step was to launch the PR campaign to target potential customers and raise awareness. A rapid response was necessary, the Company and its stakeholders could not afford to continue waiting.

The Company was soon operating at maximum capacity and no jobs were lost in the transition. As of today, 3 out of 10 private hydropower plants are mining crypto.

Data Center CR is sharing the solution so other hydroelectric plants can replicate and benefit from its success.

After a very successful PR campaign, Data Center CR story was featured on more than 50 different websites and newspapers such as Reuters, Forbes, DW, Vice, Bangkok Post, El País, CAN, TRT World, News BTC, among many others. During the PR campaign, the first hydroelectric plant for crypto mining reached 200 new customers with a minimum investment of $15,000 each. Miners are even on a waiting list for future spaces available or new hydropower plants to be ready.

The new business model also allowed the Company to grow its profit margin by 200%. As a consequence, given it evolved from selling a commodity to selling a tech service, the Company’s valuation is now 30x its initial investment.

Data Center CR’s leader Eduardo Kopper is now advising the government about blockchain and there are now 2 crypto-related bills in the Costa Rican Congress.