Cryptocurrency mining works well in Costa Rica, as it is a country renowned for its:
Openness towards blockchain technology
Renewable energy generation (for 300 days in 2017, the entire country ran on renewable hydropower, geothermal energy, biomass, solar and wind).
Electricity is the most significant factor when it comes to mining cryptocurrency. If the energy being used is both low-cost and renewable, mining can become incredibly profitable.
As well as having an abundance of green energy in Costa Rica, electricity is relatively inexpensive during off-peak night hours too. This makes the Central American country a clear-cut choice for mining cryptocurrency.
AXS receives cryptocurrency rewards for validating transactions on the blockchain.
This creates revenue which AXS invests back into future blockchain technology companies.
The cryptocurrency received, can then be monetized into real-world currency (fiat currency).
Without cryptocurrency mining, cryptocurrencies would not exist.