Living on a volcano: The outlook of El Salvador’s crypto mining industry
El Salvador’s crypto mining potential is there but it will take some time and effort to come to fruition El Salvador, the first nation to adopt Bitcoin (BTC) as legal tender, has recently announced the relaunch of its wallet app Chivo, which is supposed to patch the previous version’s stability and scalability issues. The update is welcomed news for the Central American country’s crypto experiment, which faced some hurdles and harsh criticism over the last few months. While much of the observers’ attention has been focused on aspects such as retail adoption of crypto and geopolitical....
Related News
Many people doubted Nayib Bukele’s Volcano Bitcoin Mining plans, but here we are. The president shared a video via Twitter in which we can see an El Salvador government-branded container arriving at the geothermal power plant. The reveal is that the container is full of Bitcoin mining rigs and you can see the technicians plugging […]
El Salvador President Nayib Bukele gives a sneak-peek into upcoming Volcano-powered Bitcoin mining farms. President Bukele Releases Preview El Salvador’s President, Nayib Bukele, used Twitter to give an early peak at the planned Bitcoin mining setup, which would be powered by volcanoes. Earlier this month, Salvador became the first country in the world to recognize […]
While a plan to leverage “volcano energy” is great marketing for El Salvador’s planned Bitcoin City, on its own, it might not be the best source.
The credit rating agency believes El Salvador’s Bitcoin experiment has elevated the country’s risk profile and could limit its access to foreign debt markets. El Salvador’s historic embrace of Bitcoin (BTC) could have negative consequences on the country’s sovereign credit outlook, according to Moody’s Investors Service. Moody’s analyst Jaime Reusche told Bloomberg this week that El Salvador’s Bitcoin gambit “certainly adds to the risk portfolio” of a country that has struggled with liquidity issues in the past. Under the leadership of President Nayib Bukele, El Salvador has recognized....
ZeusMiner recently debuted their next generation chips within their new Volcano miner. They also have several more tricks up their sleeves. Along with the Volcano, they announced that they are selling and shipping Gen 3 Blade upgrades for their existing miners. They also have announced they are nearly ready to debut their updated ZeusHash platform. CCN was able to get some details and a short interview with ZeusMiner on the new developments. Zeus Miner Volcano Debut. The Volcano ASIC Scrypt Miner offers 300 mh/s at 1000 watts of power at the wall. The Volcano is set to ship at the end of....