El Salvador has mined 474 Bitcoins with energy from the Tecapa volcano

Bitcoin mining in El Salvador uses renewable energy from the Tecapa volcano. So far, the nation has mined 474 Bitcoin, equivalent to 29 million dollars

Renewable energy is used in El Salvador for Bitcoin mining. The Central American country uses the energy of the Tecapa volcano in this activity, and has already managed to mine 474 bitcoin, which is equivalent to about 29 million dollars.

The country has used the geothermal energy produced by the Tecapa volcano to power the mining equipment of the main cryptocurrency on the market since 2021.

It is important to note that El Salvador has more than 5,000 BTC with unrealized gains of USD $57 million, a characteristic that President Nayib Bukele has highlighted on several occasions.

Regarding the use of geothermal energy, “1.5 megawatts (MW) of the 102 MW produced by the state power plant have been allocated for cryptocurrency mining,” according to a report.

El Salvador imports between a fifth and a quarter of the electricity used in the territory. “The rest of the production is divided between hydroelectric, geothermal and plants powered by fossil fuels, of which geothermal represents approximately a quarter of the country’s energy,” according to sector data.


Source: diariobitcoin

(Reference image source: Traxer in Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

You might also like