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Will Volcanic Geothermal Energy in El Savador Soon ‘Clean’ Bitcoin Mining?



El Salvador President Nayib Bukele posted a 25-second long video that promises a “first step” in bitcoin mining. The footage shows what reports speculate that a new volcanic geothermal bitcoin mining facility is being built in El Salvador, the first country in the world to legalize bitcoin as legal tender. In early June this year, the Salvadoran government asked the geothermal power company Lazio to figure out a way to facilitate bitcoin mining without harming nature.

Without revealing too many details, Bukele captioned the clip with some positive words, “…the first step.”

To mine or generate bitcoin, miners have to solve complex mathematical equations by means of advanced computers. In June this year, the president of crypto-friendly Salvador shared the first image of the location where he intended to set up this bitcoin mining center.

At that time, he said that by installing bitcoin mining facilities near volcanoes, mining would be very cheap and 100% clean. He had also shared a picture of the same location where his latest tweet showed the process of setting up.

Bukele isn’t the only crypto-supporting region leader finding ways to curb the carbon footprint that comes with bitcoin mining.

Earlier this week, Mayor Francis Suarez of the US city of Miami proposed setting up a bitcoin-mining facility near a nuclear power plant in the state of Florida.

According to news website Latest News Today, nuclear power is on the verge of being recognized as a true environmental, social and corporate governance (ESG) solution in terms of energy.

The massive energy consumption required for large scale crypto mining and its harmful effects on the environment is worrying many countries including China, Russia and Morocco.

Interested in cryptocurrency? We discuss all things Orbital with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.


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