Back to the list

President Bukele Teases Geothermal BTC Mining Farm Construction In El Salvador


www.cryptovibes.com 30 September 2021 16:13, UTC
Reading time: ~2 m

President Nayib Bukele of El Salvador has shared a video showing the clear progress of the nation’s BTC mining plant powered by volcanic geothermal energy. He showed the alleged first steps of a geothermal Bitcoin mining facility in the Central American country.

The published video shows an overview of a power generation facility with technicians enabling cryptocurrency mining rigs.

First steps…

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

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

Bukele did not explain a lot on this process shown on the video, only writing ‘first steps’ with a Bitcoin tag alongside several emojis representing a volcano and El Salvador’s national flag. The president’s office never immediately responded to questions asked by reporters.

This post comes months after Bukele unleashed plans to set up a geothermal Bitcoin mining facility. President Bukele said in June 2021 that he would be instructing some state-owned electrical company LaGeo to manage a BTC mining plant that will be powered with “very cheap, 100% clean, 100% renewable, 0 emissions energy.”

The country officially accepted Bitcoin as legal tender together with US dollars on September 7, three months after the country’s Legislative Assembly passed the ‘Bitcoin Law.’

Notably, the latest move by the Salvadoran government reaffirms the massive potential for BTC proponents to cut Bitcoin’s carbon footprint using a lot of renewable energy sources, including solar, hydroelectric, and wind power.

According to Tesla CEO Elon Musk, BTC already hits its benchmark on renewable energy in July 2021, indicating that the percentage of renewable energy usage was probably at or above 50%.

Back to the list