El Salvador to Mine Bitcoin With Energy From Volcanoes: ‘100% Clean, 100% Ren...
El Salvador has begun exploring bitcoin mining using energy from its volcanoes, President Nayib Bukele has revealed. “Our engineers just informed me that they dug a new well that will provide approximately 95MW of 100% clean, 0 emissions geothermal energy from our volcanos,” he detailed. Bitcoin Mining Using Volcanoes’ Energy El Salvador President Nayib Bukele announced on Twitter Wednesday: “I’ve just instructed the president of La Geo (our state-owned geothermal electric company) to put up a plan to offer facilities for bitcoin mining with very cheap, 100%....
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Bitcoin is heating up — some may say erupting — as the Latin American country plans to tap energy from volcanoes for mining the cryptocurrency. Nayib Bukele’s plans for crypto in El Salvador are still in motion, with the president now calling for a geothermal power company to make certain facilities available to Bitcoin miners. In a Wednesday tweet from Bukele, the president said he would be instructing Mynor Gil, the president of the state-owned electrical company LaGeo, to facilitate Bitcoin (BTC) mining “with very cheap, 100% clean, 100% renewable, 0 emissions energy” from the country’s....
According to Nayib Bukele, should the power consumption of the country’s planned Bitcoin City exceed the volcano’s capacity, geothermal energy can be sourced from other sites. El Salvador's President Nayib Bukele has claimed officials will be able to use geothermal energy from one of the country’s inactive volcanoes to power its Bitcoin City project.In a Sunday notice, Bukele said there was a 90% probability of using the Conchagua volcano to supply 42 megawatts — “enough to provide energy to the entire Bitcoin City,” according to the president. The Salvadoran leader said the state-owned....
The U.S. should address the environmental problems of Bitcoin mining by providing its clean energy to set up mining hubs, Mayor Francis Suarez said. The majority of Bitcoin (BTC) is mined outside of the United States using “dirty energy,” Miami Mayor Francis Suarez has claimed.Suarez discussed the environmental implications of Bitcoin mining in a March 26 episode of the Unconfirmed podcast with cryptocurrency journalist Laura Shin. The mayor said that the U.S. should mine more Bitcoin for to national security reasons.“A part of the problem with Bitcoin is 90% of it is not done in the....
Crypto mining companies leveraging renewables may also have a much larger impact on clean energy for the environment. Bitcoin (BTC) may be the last thing one might consider when thinking about ways to ensure a clean-energy future. This has especially become the case following a tweet sent by tech entrepreneur Elon Musk back in May, in which he stated that Tesla would stop accepting BTC payments due to the increasing usage of fossil fuels for mining. Yet raising awareness around the high energy costs typically associated with Bitcoin mining didn’t negatively impact the crypto ecosystem — in....
Bitcoin market sentiments remain skewed to the downside even after it becomes a legal tender in El Salvador following a parliamentary nod. Bitcoin (BTC) logged its best daily performance on Wednesday since Feb. 8, the day Tesla announced that it had added $1.5 billion worth of BTC to its balance sheet.The flagship cryptocurrency surged 11.98% to $37,573 after El Salvador President Nayib Bukele passed legislation that approved it as a legal tender. In short, the Central American nation will now be able to price goods and services in BTC and will even accept the cryptocurrency for tax....