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
2 years 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

7 TECH TIPS THAT WILL HELP YOU SMASH YOUR BUSINESS GOALS 2024

Table of Contents1. Make use of keyboard shortcuts2. A universe of widgets and integrations3. Use technology to defeat technology4....

10 Best Backpacking and Camping gadgets 2024

Table of Contents10 Best Backpacking and Camping gadgets1. Living Lodge at Snow Peak M2. Camper JISULIFE Fan3. NOMAD Smoker...

20 Cool Smart home Gadgets on Amazon 2024, trend this year!

Table of Contents20 Cool Smart home Gadgets on Amazon1. Twelve South AirFly Pro Bluetooth Wireless Audio Transmitter/Receiver:2. PhoneSoap Dual...

Top 10 gadgets to buy under Rs.1000

Table of ContentsTop 10 gadgets to buy under Rs.1000 on Amazon India1. pTron Bullet Pro 36W PD Quick Charge2....

Latest Updates

Must read

Uber Now Allows Booking Cabs, Bikes, Autos On WhatsApp

Table of ContentsWhatsApp users can book an Uber ride...

Samsung Galaxy Z Fold 2 with five cameras launched

Topics:Samsung Galaxy Z Fold 2 Samsung in its second edition...

You might also likeRELATED
Recommended to you

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