El Salvador is now the only country where Bitcoin can be used as a legal currency besides the US dollar. Since cryptocurrency mining is an excessive energy consumption, so has the country contemplation Use the energy promoted by volcanoes.
Now, this idea is off paper and El Salvador will really start mining bitcoin through volcanic energy.
El Salvador's president, Neb Bukele, has taken a bold step down a predictable, uncertain path. Bitcoin is now used as legal tender, and thus, citizens can use it to make payments, just as they would with the currency that was in force before.
Today, El Salvador woke up and learned, through a tweet from Nayib Bukele, that the first day of bitcoin mining with volcanic energy has arrived — a solution that came out in June of this year and aims to control the energy consumption associated with processing. The country has already mined the equivalent of $269 in bitcoin, using energy from volcanoes.
Recently, the president posted a 25-second video with footage of a government-branded shipping container filled with bitcoin mining rigs, as well as technicians installing and connecting ASIC operators near a volcano. Content described as "first steps..." has already gone viral.
- Nayib Bukele 🇸🇻 (nayibbukele) September 28, 2021
Despite the success, the President of El Salvador clearer The mining project is still going on and the specialists are in the process of “testing and installing” the new equipment. More so, although it looks new, it has been around for some time: “It's just geothermal energy […] “Iceland has been doing this since the beginning of bitcoin mining,” said Alejandro de la Torre, a bitcoin miner.
This is still a good opportunity for El Salvador, as it is called the "Land of Volcanoes". In other words, this parity can help the country reduce its emissions that would otherwise be associated with bitcoin mining.
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