El Salvador’s First Successful Run With Geothermal Bitcoin Mining

https://www.cnbc.com/2021/10/01/el-salvador-just-started-mining-bitcoin-with-volcanoes-for-the-first-time-ever-and-theyve-already-made-269.html

A tweet by President Nayib Bukele showed that they have mined approximately 0.01083155 BTC at 11:51PM September 30th, 2021. At today’s value at October 1st, 6:53PM PST, the value of that yield has jumped up to $516.86 from it’s initial value of approximately $269.

Harnessing geothermal energy is not a new science, but in El Salvador, the technology is being tested and slowly implemented. The country is rife with volcanoes, with 20 in total and 5 still active in the small country. There is so much volcanoes in fact, that a visitor or tourist would be able to see a volcano from any point while standing in the country.

Geothermal energy supplied by volcanoes provides approximately a quarter of the power generation capacity in El Salvador, making this country a lucrative target of bitcoins mined with green energy, which would catch the controversial Elon Musk’s eye and maybe sway his mind on his opinion of cryptocurrency mined with energy coming from pollutive coal-fired power plants in China.

This provides a great investment opportunity for crypto-enthusiasts as it incentivizes further expansion into the technology.

Stay tuned for more optimistic news from El Salvador.

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