President Nayib Bukele plans to use geothermal electricity to mine Bitcoin

President of El Salvador Nayib Bukele has tweeted that his country will be looking at mining Bitcoin through the use of volcanoes.

Following the digital asset becoming legal tender in the country, 39-year-old president has wasted no time in reaching out to the state-owned geothermal electric company LaGeo, he added:

“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”.

The move to offer sustainable bitcoin mining solutions by El Salvador comes after China has taken measures to crack down on bitcoin mining within the country.

On Wednesday, June 9, El Salvador’s legislative assembly made history by formally adopting bitcoin as legal tender, with nearly three-fourths of the legislature voting in favor. If the new law works as intended, it has the potential to transform El Salvador into one of the world’s most important financial centers, and to affect the way people around the globe use cryptocurrencies.

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