Saturday, October 2, 2021

El Salvador mines first bitcoins from volcanic energy


El Salvador officially mined its first Bitcoins using a volcano. At the same time, geothermal energy now accounts for about 22% of the country's market.
Previously presented as a concept, the project of mining cryptocurrency using volcanic energy turned out to be a surprisingly viable idea. So much so that today the President of Salvador Nayib Bukele shared on Twitter a photo from the monitor showing the number of cryptocurrencies mined in this way. By that time, it was 0.01083 BTC, of which 0.0048 BTC is already awaiting withdrawal.

The country not only actively uses geothermal energy personally, but is also one of its largest producers in the world. It is generated by 20 volcanoes located in the region, which scientists have described as "potentially active". Given their number, this use of natural power is hardly surprising, although Bukele's resourcefulness still amazes many miners. In addition, such energy is classified as environmentally friendly, so the "green miners" will also have no claims against the country.

On September 28, the president shared a video on his Twitter account, which showed the delivery of equipment in the form of ASIC miners, as well as the process of installing and configuring them. The local energy company LaGeo is directly involved in the project, thanks to whose specialists the country's authorities were able to quickly implement the idea.

According to Bukele, the equipment is still in test mode and they are testing it, but it has already given the first results. Of course, it was not without spiteful critics, because in the comments and retweets people shared the opinion that the president should use a period of at least three hours of equipment operation for reports, while others even joked about the level of "home mining".

Recall that the law on the legalization of Bitcoin in El Salvador entered into force on September 7, and by the 27th of the same month, according to Bukele, 2.1 million residents were using the state-owned Chivo cryptocurrency.

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