El Salvador has begun exploring bitcoin mining using energy from its volcanoes, President Nayib Bukele has revealed. “Our engineers just told me they have dug a new well that will provide about 95MW of 100% clean, 0 emissions geothermal energy from our volcanoes,” he elaborated.
Bitcoin mining using the energy of volcanoes
El Salvador’s President Nayib Bukelas announced On Twitter on Wednesday: “I told the President of La Geo (our state-owned geothermal electric company) plans to provide facilities for bitcoin mining with very cheap, 100% clean, 100% renewable, 0 emissions energy It’s directed. From our volcanoes. It’s going to evolve rapidly.”
The president soon posted another tweet that said:
Our engineers have just informed me that they have dug a new well that will provide approximately 95MW of 100% clean, 0 emissions geothermal energy from our volcanoes. Starting to design a complete bitcoin mining hub around it. What you see coming out of the well is pure water vapour.
Many bitcoiners welcome President Bukele’s decision to use the energy in mining bitcoin from the volcano, seeing it as a bullish move. At the time of writing his tweet was flooded with thousands of comments along with thousands of likes and retweets. Among those who commented was Twitter CEO Jack Dorsey who wrote: “Bitcoin encourages renewable energy.”
Microstrategy CEO Michael Sayer said: “Bitcoin mining is the best technology in the world to convert energy into prosperity.” “Bitcoin encourages renewable energy,” he said, tagging Elon Musk. Sailor recently hosted a meeting between the Tesla CEO and North American bitcoin miners to discuss mining using renewable energy. The miners agreed to form the Bitcoin Mining Council.
The president first revealed his bitcoin mining plans on Wednesday morning on the Twitter Space Room hosted by Nick Carter as the Salvadoran Congress discussed its bill to make bitcoin legal tender. More than 20,000 people attended to hear the discussions organized by Carter. The bill was later passed with a majority.
President Bukele was asked if he had any bitcoin mining plans. He mentioned that the country has plans to expand infrastructure and encourage development around its source of geothermal energy. “On the outskirts of plants, we want to promote industrial parks where you can set up your factory and you will get cheap, clean, renewable [energy]He then suggested that bitcoin miners might consider these parks ideal given their close proximity to cheap, clean, electricity.
Morgan Creek Digital Partner Anthony Pompliano commented: “The President of El Salvador is reporting that the country’s engineers have already dug a new well for their zero-emission bitcoin mining facility. Less than 24 hours after the idea emerged. It’s time. Speed is deadly.”
What do you think about bitcoin mining with El Salvador volcanic energy? Let us know in the comments section below.
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