El Salvador has officially used volcanic energy to mine Bitcoin. President Nayib Bukele announced on October 1 that the so-called “volcano node” mined the first BTC shortly after the installation of mining equipment at a geothermal power plant.
Bukele’s statement lacked details. He did not disclose how many drilling rigs were installed on the Volcanode site, how much electricity the plant has for Bitcoin mining, or how the project will proceed after it is put into operation.
We are still testing and installing, but this is the first #Bitcoin official mining from #volcanode 🌋October 1, 2021
But he did show the initial profit of Volcanode: 0.00599179 BTC. Based on Bitcoin’s current value of approximately US$47,831, this is worth approximately US$286.50. Since Bukele’s announcement, prices have been fluctuating, but not enough to have a major impact.
Booker first Announced his plan Soon after the Congress of El Salvador approved his proposal to accept cryptocurrency as legal tender, he used volcanic energy to mine Bitcoin in June, the country Effective September 7.
I just instructed the president of @LaGeoSV (our state-owned geothermal power generation company) to develop a plan to provide #Bitcoin mining with very cheap, 100% clean, 100% renewable, and 0-emission volcanic energy 🌋 This will develop fast! 🇸🇻 pic.twitter.com/1316DV4YwTJune 9, 2021
That action is Be troubled by problems The value of Chivo, the official crypto wallet of the Salvadoran government, and Bitcoin has fallen sharply.But the country has moved forward anyway, and Booker Said On Sunday, Chivo now has 3 million users.
Using “very cheap, 100% clean, 100% renewable, zero-emission energy” to mine Bitcoin can help El Salvador adjust Public perception Cryptocurrencies and their counterparts serve as an environmentally hostile way for their supporters to get rich.
However, it all depends on the success of the project and whether Bukele’s account of this volcanic energy is accurate. Even so, many people will still argue that energy can be used better, but at least El Salvador is working hard to solve this problem.