El Salvador Wants to Mine Bitcoin Using Volcano Energy

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El Salvador

The President of El Salvador, Nayib Bukele, has a new idea for mining Bitcoin. He asked companies in his country to provide mining resources using energy from the country’s volcanoes.

As quoted detikINET from Reuters, Thursday (10/6/2021) Bukele asked the state-owned geothermal power company, LaGeo, to develop a plan to build a Bitcoin mining facility using renewable energy from volcanoes.

Previously, El Salvador was also the first country in the world to adopt Bitcoin as a legal tender. The Central American state parliament agrees with Nayib’s desire to embrace cryptocurrencies. “This situation will develop quickly,” Nayib tweeted.

Bitcoin mining itself is often the target of criticism from environmentalists because it wastes electricity and in turn, wastes resources such as coal. It is feared that this will have a negative impact on the future of the Earth, especially in the midst of the threat of climate change.

Then renewable energy from volcanoes might be the solution because it is considered clean for mining Bitcoin. “Our engineers have just informed that they are excavating a new facility that will provide approximately 95MW of geothermal energy which is one hundred percent sneezing and zero emissions from our volcano,” the president claimed.

With the recent boom in Bitcoin mining raids in China, miners may look to other countries. The approval of Bitcoin as a means of payment as well as a clean mining process will make El Salvador one of the destination countries.

Countries like Iceland have also started to become popular locations for Bitcoin mining. Just like El Salvador, Iceland is rich in geothermal energy from the country’s many volcanoes.

Watch Videos”El Salvador the First Country to Make Bitcoin a Legal Payment Tool
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