El Salvador to Use Volcano Energy to Mine Cryptocurrencies

Now that the bill for the legalization of cryptocurrencies and Bitcoin has been passed in El Salvador, the next thing is the adoption of cryptocurrencies. The country now has every option that the cryptocurrency industry has to offer in order to carry out its operations in cryptocurrencies.

The country is ambitious and more than interested in mining cryptocurrencies and wants to carry out its plans at the earliest. Out of all personalities and government bodies, it is the president of El Salvador who is keen to start working on cryptocurrencies at the earliest.

Just recently, Nayib Bukele shared his plans for an unlimited power supply for the mining of cryptocurrencies. He took it to Twitter through his profile, sharing exactly what he is planning to do in regards to that.

Bukele revealed that he is currently in talks with a power company that produces energy through geothermal mediums. He has revealed that they are currently in talks to ready certain facilities that would prove to be extremely beneficial for Bitcoin mining.

Now that the country has the go-to mine Bitcoin and other cryptocurrencies, the first thing it is going to do is mine Bitcoin (BTC). Therefore, they are looking for energy sources that would be produced from the cheapest sources.

Bukele tweeted about the progress in getting the mining centers set up on Wednesday, June 9, 2021. He revealed that he had already contacted the president of LaGeo, Mynor Gil, and have instructed him about the requirements.

LaGeo is an electrical company that is owned by the state and is one of the most prominent power-generating companies in El Salvador.

Bukele stated that while talking to Mynor Gil, he has instructed him that his company needs to facilitate the Bitcoin (BTC) mining process. He needs to oversee the entire Bitcoin (BTC) mining project personally and keep him up-to-date about any issues they face throughout the process.

He stated that Mynor Gil is instructed to ensure that the Bitcoin (BTC) mining project is executed with 0 emissions, 100% renewable, and very cheap energy. He stated that the particular company will be responsible for producing energy through volcanoes in the country for Bitcoin (BTC) mining.

LaGeo is currently responsible for running the only two geothermal power plants that are currently based in El Salvador. The first geothermal power plant is located in the Berlin region of El Salvador. The second geothermal power plant is located in the Ahuachapan region of El Salvador.

Bukele has announced that they have already decided that they will be building two new facilities at two different locations. The first facility would be in the Chinameca region while the second one would be in the San Vicente region. He stated that they have already started the initial phases of initiating the construction of both facilities.

Leave a Reply

Your email address will not be published. Required fields are marked *