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El Salvador: the volcano-powered Bitcoin mining farm - The Cryptonomist

Mining

en.cryptonomist.ch 30 September 2021 05:44, UTC
  
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El Salvador’s President Nayib Bukele shared a video on Twitter showing the new volcano-powered Bitcoin mining farm. 

His idea of using geothermal energy for BTC mining, expressed as early as last June 2021, appears to be a reality.

Summary

El Salvador: the President and the new volcano Bitcoin mining farm

Nayib Bukele presents the “first steps” for the construction of the Bitcoin mining farm using volcanoes on Twitter:

First steps…

🌋#Bitcoin🇸🇻 pic.twitter.com/duhHvmEnym

— Nayib Bukele 🇸🇻 (@nayibbukele) September 28, 2021

This is a video showing a large amount of ASIC Bitcoin mining equipment installed in a geothermal energy context. All bearing the logo of the government of El Salvador.

At the time of writing, the number of views are 2.1 million with 54 thousand “likes”. However, among the comments, not everyone seems to be enthusiastic about the government’s decision to use the country’s energy to mine the queen of cryptocurrencies.

In El Salvador Bitcoin is legal tender since 7th of September 2021

Salvadorans divided between supporters and opponents of the mining farm

Among the comments, not everyone seems to be enthusiastic about the government’s decision to use the country’s energy to mine the crypto queen.

One girl’s tweet, for example, states as follows:

“So, yes, there are power plants to produce more energy, but for Bitcoin mining. People have been waiting for more than 30 years for electricity! Why not help those most in need? HYPOCRITE”.

While a Salvadoran supporter reportedly replied to the girl as follows:

“Greetings Alx, the 60,000 families that lack energy, represent 5% of the population, they are the most distant. This places El Salvador in the first in Central America, it is a great achievement. Cryptocurrency mining will be a breakthrough for the country, that way we will be able to reach a better future for the country”.

There are also many bitcoin supporters who have retweeted the President’s tweet (there are more than 11,000 retweets), commenting on how “impressive” the new Salvadoran geothermal mining farm was.

The new Salvadoran mining farm and geothermal energy from volcanoes

Nayib Bukele’s original idea of using geothermal energy from volcanoes had been shared with the public in June 2021.

In a tweet, the President had said that he had instructed the chairman of the state-owned power company to devise a plan to provide bitcoin mining facilities with cheap, clean, renewable and zero-emission energy. 

In essence, geothermal energy extracted from underground heat is clean, renewable and generates almost no harmful emissions. It is also particularly cheap, especially if it is consumed locally.


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