El Salvador Mines First Bitcoin Powered By Volcanic Energy
The ‘Homeland’ of Bitcoin, El Salvador has mined its first Bitcoin powered by volcanic energy.
It was the Salvadoran president, Nayib Bukele, himself to break the news as he shared a screenshot of the first mined Bitcoin on Twitter, calling it “officially the first bitcoin mining the volcanode.”
— Nayib Bukele (@nayibbukele) October 1, 2021
Having used a truly reliable clean energy source for the first Salvadoran Bitcoin, Bukele hinted towards using volcanic energy for Bitcoin mining earlier this week when he revealed images of a geothermal facility. He then announced the country was taking “its first steps” towards the use of clean volcanic power. State-owned geothermal electric company LaGeo is tasked with bitcoin mining by tapping the country’s abundant source of natural wealth.
According to volcanodiscovery.com, El Salvador is home to 20 potentially active volcanoes that currently supply near 25% of the country’s energy. Consequently, geothermal energy is a no-brainer for the country to be used to power its mining operations, while simultaneously setting an example to the rest of the world.
Although El Salvador is still in a testing phase with its volcanic mining, we will be keeping a close eye on the country’s ‘account balance’.
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Author: Peter Siu