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
4 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

Vivo Y01A Spotted On BIS Certification Website; Expected To Launch In India Soon

The Vivo Y01A is anticipated to go on sale in India for less than Rs. 10,000. According to a report,...

Samsung Galaxy XCover6 Pro With 5G, Wi-Fi 6E Compatibility Unveiled, To Go On Sale Starting July

The 6.6-inch PLS LCD screen on the Samsung Galaxy XCover6 Pro has FHD+ resolution and a 120Hz refresh rate. The...

Ambrane Stylo Max Power Bank With 50,000mAh Battery Capacity Launched In India

Ambrane's first-ever power bank, the Stylo Max, was introduced. In India, Ambrane debuted the Stylo Max 50,000mAh power bank.According to...

Samsung To Launch A New Galaxy M-Series Smartphone In India On July 5

On July 5, at 12:00 IST, a new Samsung Galaxy M-series smartphone will be unveiled. On July 5, Samsung is...

Latest Updates

Must read

OnePlus Ace Racing Edition Likely to Launch in India as OnePlus 10R Lite: All Details

The OnePlus 10R Lite with model number PGZ110 has...

OPPO’s 240W Fast Charging Technology Reportedly Coming Soon

A 4,500mAh battery might be able to be charged...

You might also likeRELATED
Recommended to you

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