El Salvador keeps its promise and is beginning to harness the energy of its volcanoes to mine Bitcoin, although at the moment in an experimental phase.
El Salvador became in the first country in the world to accept Bitcoin as legal tender, in a strategy applauded by many and that is part of a much deeper plan for mining cryptocurrencies.
While there are many ways to mine Bitcoin, recently more environmentally friendly procedures are becoming fashionable taking advantage of power plants or disused coal mines, and El Salvador wants to take advantage of all its volcanoes to start mining Bitcoin, and they have already started, they advance from the CNBC.
And that the president Nayib bukele reported a few hours ago the first results of its project to mine Bitcoin taking advantage of the energy of the country’s volcanoes.
First steps … 🌋#Bitcoin🇸🇻 pic.twitter.com/duhHvmEnym
– Nayib Bukele 🇸🇻 (@nayibbukele) September 28, 2021
In the 25-second teaser video posted on Twitter, we can see a government shipping container full of Bitcoin mining rigs, along with the technicians who install them and next to antennas of a power factory in a thick forest, next to the volcano. Saint Ana.
This mining project is still a work in progress as they are only testing and installing new mining equipment right now, but so far with this experiment They have managed to extract 0.00599179 bitcoins, about 269 dollars.
– Nayib Bukele 🇸🇻 (@nayibbukele) October 1, 2021
This is the result of a previous promise, in which Nayib Bukele stated that he was close to presenting “a plan to offer facilities for Bitcoin mining with very cheap, 100% clean, 100% renewable energy and without emissions from our volcanoes”.
This news comes weeks after El Salvador became the first country in the world to declare bitcoin legal tender. In addition, at that time the government took the opportunity to add bitcoins to its balance and launch its own national virtual wallet that offers free transactions and allows fast cross-border transactions.