u.today
El Salvador President Nayib Bukele has taken to Twitter to announced that LaGeo, a state-owned geothermal electricity company, has been instructed to come up with a plan to mine Bitcoin with volcano energy.
The idea was suggested to Bukele earlier today during a live audio conversation on Twitter's “Spaces.”
There are about 20 potentially active volcanoes in the country. The Chaparrastique volcano has had over 25 eruptions over the past 500 years.
El Salvador's geothermal energy is fully clean and renewable.
Earlier today, the tropical nation made history by voting to make Bitcoin legal tender. As reported by U.Today, El Salvador now also offers permanent residency to anyone who spends 3 BTC on any product or service within the country.
On top of that, El Salvador will hold roughly $150 million worth of Bitcoin in its trust fund.