El Salvador is taking its ‘first steps’ to mine bitcoin with geothermal energy from its volcanoes

Posted:

September 29, 2021 16:13 GMT

This was announced by President Neb Bokel. Since last September 7, the cryptocurrency has become legal tender in the Central American country.

In El Salvador, bitcoin mining using geothermal energy from volcanoes has become a reality, according to a video clip shared by the head of state, Nayib Bukele, on his Twitter account.

In the recording, which Bukele accompanied with the brief phrase “first steps”, aerial photos of the power plant can be seen. Next, a truck enters the facility and operations unload a container. Finally, the servers setting is displayed.

On September 7 came into effect In El Salvador the use of Bitcoin as the official currency, according to the law agreed Three months ago by the Legislative Council, a majority in favor of the government.

Previously, in June, Bukele announced that the Central American country would not only recognize Bitcoin as legal tender, but also will encourage Cryptocurrency mining powered by volcanoes.

At that time, the chief confirmed that he had given instructions to the chief State-owned geothermal company LaGeo To plan the organization of Bitcoin mining at its facilities using energy from volcanoes.

Bukele also noted that it is “very cheap, 100% clean, 100% renewable and zero-emissions energy.”

He added at the time: “Our engineers have just informed me that they have drilled a new well, which will provide approximately 95 megawatts of geothermal energy from our volcanoes, 100% clean and zero emissions.”