President Nayib Bukele gives a sneak-peek into the upcoming Volcano-powered Bitcoin mining farms.
El Salvador’s President, Nayib Bukele, used Twitter to give an early peak at the anticipated Bitcoin mining setup, which would be powered by volcanoes.
Earlier this month, Salvador became the first country in the world to recognize Bitcoin as legal money. The country’s congress passed the Bitcoin bill with a strong vote in favour.
The President also announced intentions to turn small island nations into a hotspot for environmentally friendly Bitcoin mining.
President Bukele spoke at a Twitter Space on the day of the election, where he interacted with over 23,000 crypto lovers from around the world.
During their conversation, he was asked about his plans to promote environmentally friendly Bitcoin mining, to which Bukele said that the country could use geothermal energy from the volcano.
Clean, volcano powered hashrate coming soon… #Bitcoin🇸🇻🌋♻️
Sneak peek 🤫 pic.twitter.com/u7ocqkKTN0
— Nayib Bukele 🇸🇻 (@nayibbukele) June 23, 2021
The president began working on setting up clean bitcoin mining operations a week after Bitcoin became a legal tender, instructing the director of the state-owned geothermal utility to make room for Bitcoin mining.
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
The clean Bitcoin Mining Movement
Despite being a small Central American country, El Salvador has moved quickly to make bitcoin legal tender and to allow for clean Bitcoin mining, which uses 100 per cent renewable energy.
The news also comes at a critical moment when there is a lot of controversy and FUD around Bitcoin mining energy use, which has been fostered by people like Elon Musk.
The Chinese restriction on crypto mining in key regions like Sichuan and Xinjiang may result in Bitcoin mining decentralization in the coming months.
Many Chinese mining farms have already relocated to the United States, Kazakhstan, and a few other North American countries.
With a Bitcoin-centric government in power, Salvador has the potential to recruit these miners and become a new Bitcoin mining hotspot.
