First Bitcoin Using Volcanic Energy Mined by El Salvador,Tweets President Nayib Bukele

-

El Salvador President Nayib Bukele has tweeted that his country has mined Bitcoin, the world’s largest cryptocurrency, using energy from a volcano. He shared an image of the mining in progress, which showed 0.00599179 Bitcoin, worth about $284 (roughly Rs. 21,098) at the current trading rate. Last month, El Salvador became the first country in the world to give Bitcoin the status of a legal tender alongside the US dollar. The nationwide rollout, via its Chivo crypto wallet, had hit a bumpy road initially but the technical issues appear to have stabilised and the Central American country is moving ahead with its crypto experiment.

Nearly 25 percent of domestic energy production in El Salvador comes from geothermal energy. President Bukele tweeted on October 1 about El Salvador’s maiden attempt to harness the energy of volcanoes to power Bitcoin mining.

Indicating that the mining project was still a work in progress, the President tweeted, “We’re still testing and installing, but this is officially the first Bitcoin mining from the volcanode.”

However, this is not the first time energy from volcanoes has been used for mining Bitcoin. Previously, Iceland and Norway have used geothermal and hydroelectric energy to mine cryptocurrency. These countries take advantage of cheap energy sources to power their mining machines. The low temperatures in these countries also come as a benefit as they cool computer servers naturally.

In June, President Bukele had asked the state-owned geothermal electric company LaGeo to make efforts to ensure the power cost involved in Bitcoin mining is reduced.

1 COMMENT

0 0 votes
Article Rating
Subscribe
Notify of
guest

1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Eric Jones
Eric Jones
9 months ago

Cool website!

My name’s Eric, and I just found your site – botgadgets.com – while surfing the net. You showed up at the top of the search results, so I checked you out. Looks like what you’re doing is pretty cool.

Latest news

LG Ultra PC 14-Inch, 16-Inch Laptops With AMD Ryzen 5000 Series Processors Launched

The laptops of the LG Ultra PC series include anti-glare IPS panels with minimal bezels. Last week, LG introduced 14-inch...

Samsung Galaxy A23 5G With 6.6-Inch Infinity-V Display, 5,000mAh Battery Launched

Table of ContentsSamsung Galaxy A23 5G price, availability (expected)Samsung Galaxy A23 5G specifications Samsung has not yet revealed the Galaxy...

LG Ultra Tab With 10.35-Inch Display, Snapdragon 680 SoC Launched

Table of ContentsLG Ultra Tab priceLG Ultra Tab specifications The 7,040mAh battery in the LG Ultra Tab supports 25W rapid...

OnePlus 10T Glacier Mat Case With Sustainable Circulation Cooling, Bumper Case Sandstone Launched In India

Table of ContentsOnePlus 10T Glacier Mat Case, Bumper Case Sandstone, Tempered Glass price in India A tempered glass for the...

Latest Updates

Must read

Vivo T1x With 5,000mAh Battery, 50-Megapixel Dual Rear Cameras Launched In India

The Vivo T1x begins at Rs. 11,999 in India. The...

Asus ROG Cetra True Wireless Pro Earbuds With Wired Mode Announced

Asus ROG Cetra True Wireless Pro earbuds feature Qualcomm...

You might also likeRELATED
Recommended to you

1
0
Would love your thoughts, please comment.x
()
x