- El Salvador announces that its Bitcoin mining initiative will be driven by renewable energy.
- The country is using geothermal energy from its volcanoes to drive mine Bitcoin.
- This makes it the first country to adopt Bitcoin and use renewable energy to mine it.
Specifically, the country will use its volcanoes to power Bitcoin mining in the nation. In other words, it is using geothermal energy as a great eco-friendly alternative to power Bitcoin mining. This is spectacular news since Bitcoin mining is often criticized for its energy consumption.
In particular, tech stars like Elon Musk are against mining Bitcoin for this reason alone. El Salvador is going to show the world that mining Bitcoin and going green can go hand-in-hand.
Bukele told the world in a tweet about this renewable energy. The tweet explains how he got the country’s geothermal electric company – LaGeo, to create a plan of action. The energy to mine Bitcoin in the nation will be completely clean, cheap, renewable, and with no harmful emissions.
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 🌋
Starting to design a full #Bitcoin mining hub around it.
What you see coming out of the well is pure water vapor 🇸🇻 pic.twitter.com/SVph4BEW1L
— Nayib Bukele 🇸🇻 (@nayibbukele) June 9, 2021
Another tweet was out in just two hours. It said that LaGeo engineers have dug a new well that can provide up to 95MW. This meant that the go green initiative to mine Bitcoin in El Salvador is ready to go. The president was ecstatic to announce that it will begin to build a Bitcoin mining hub around the well.
Within just a week, El Salvador has gone from adopting Bitcoin as a legal tender to mining Bitcoin in its nation. The country has now officially become the first country to make Bitcoin a legal tender as well as the first country to mine Bitcoin with renewable energy.
Meanwhile, El Salvador’s decisions have influenced other neighboring nations to begin investing and adopting Bitcoin as well. In addition, it has begun to welcome other cryptos as well. Justin Sun, TRON’s CEO happily said that TRON would be the first organization to establish an office in El Salvador.