Monday, June 21, 2021

El SALVADOR MAKES A HUGE STEP FOR MINING BITCOIN

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El SALVADOR MAKES A HUGE STEP FOR MINING BITCOIN

El Salvador will mine with 100% renewable energy! As part of El Salvador's President Nayib Bukele's cryptocurrency plans, he called...

El Salvador will mine with 100% renewable energy!

As part of El Salvador’s President Nayib Bukele’s cryptocurrency plans, he called for a geothermal energy company. In order to provide certain facilities to Bitcoin miners.

In a post on Wednesday, the president stated that he had instructed Mynor Gil, the head of state-owned energy company LaGeo. To mine Bitcoin in a very cheap, clean, and renewable way.

The firm operates two geothermal power plants in El Salvador. Their location is in the districts of Ahuachapán and Berlin. They’re announcing that they will build new plants in San Vicente and Chinameca.

He said following:

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!

El Salvador Will Mining Bitcoin With Geothermal Energy!
More than half of the country’s energy comes from renewable energy sources. However, the country has 23 active volcanoes. According to the reports, the geothermal power potential of the country is close to 644 MW. According to the Cambridge Bitcoin Electricity Consumption Index, Bitcoin consumes more than 116.7 TW/h of energy per year.

El Salvador’s mining solution is progressing in direct proportion to the statements Bukele has made in the last few days. At the Bitcoin 2021 conference in Miami last weekend, the country president stated that he would introduce a bill in the country to make Bitcoin the local currency. This request was accepted by a supreme majority in the parliament yesterday.

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