President Nayib Bukele has proposed a bold new initiative to harness the country’s abundant volcanic resources for Bitcoin mining. Speaking about El Salvador’s 170 volcanoes, Bukele suggested that a “rent your volcano to mine Bitcoin” program could be a viable solution to combine renewable energy with cryptocurrency mining.
«With 170 volcanoes, this could be an innovative and sustainable way to mine Bitcoin,» Bukele stated, highlighting the potential of geothermal energy to power mining operations.
In response, Dr. Daniel Alvarez, Director of the Geothermal Energy and Hydrocarbons Directorate (@DGEHMSV), assured the public that the government is moving forward with the plan. «We’re on it, Mr. President! We’ll start working on the new geothermal law immediately,» he confirmed.
This comes after El Salvador successfully mined 474 Bitcoin, now valued at $46 million, using volcanic geothermal power. With the country’s vast geothermal resources, the proposed program could further solidify El Salvador’s position as a global leader in renewable-powered cryptocurrency mining.