El Salvador’s Volcanic Bitcoin Mine – First Look

A Volcanic Bitcoin Mine?

Back in June, El Salvador’s President, Nayib Bukele enacted his plan to make Bitcoin legal tender in El Salvador. Not wasting any time, he quickly announced additional plans to build a volcanic bitcoin mine. From his tweet on June 9:

I’ve just instructed the president of @LaGeoSV (our state-owned geothermal electric company), to put up a plan to offer facilities for #Bitcoin mining with very cheap, 100% clean, 100% renewable, 0 emissions energy from our volcanos. This is going to evolve fast!”

President Bukele is Not Wasting Time

Boy he wasn’t kidding about evolving fast… Here is a tweet earler this afternoon from President Bukele:

With Bitcoin came under fire earlier this year because BTC miners used too much fossil fuels. The El Salvadorian President posed the idea of using “clean” geothermal energy to power Bitcoin miners instead and promised to move swiftly.

President Bukele isn’t wasting any time. Salvadorian citizens will soon become more accepting of Bitcoin as legal tender and currency. In time, El Salvador may become a destination, not only for Bitcoin miners, but for Bitcoin investors, providing a massive boost to the national economy and promoting the acceptance of cryptocurrencies worldwide.

By setting up a volcanic bitcoin mine, El Salvador is taking advantage of its strengths. While the U.S. Government and the Federal Reserve are inflating the dollar into worthlessness, El Salvador is moving ahead quickly to embrace the future of currency. This presents a stark contrast between a failing empire (The United States) and an emerging economic powerhouse.


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