El Salvador edges closer to mining BTC with volcanic energy
El Salvador President Nayib Bukele tweeted a short video showing the progress being made to harness geothermal energy for BTC mining. The plant has since mined one bitcoin.
— Nayib Bukele (@nayibbukele) September 28, 2021
The video showed workers from state-owned geothermal electric company LaGeo connecting mining rigs and a large shipping container inscribed with “Government of El Salvador.”
Earlier in June, El Salvador approved a bill making bitcoin legal tender. This was implemented in September.
Residents use a government sanctioned digital wallet called Chivo to store and make payments in BTC. To date, there are over 2.2 million Chivo users compared to the 1.8 million traditional bank accounts.