El Salvador mines 474 Bitcoin using geothermal volcanic energy

It was stated that El Salvador, which recently launched a website showing the number of Bitcoins in its possession and currently has 5750 BTC, has also mined 474 Bitcoins with mining through geothermal energy since 2021. The total value of Bitcoins held by the Latin American country is around $355 million.

El Salvador mines 474 Bitcoin using geothermal volcanic energy

In 2021, El Salvador, which made Bitcoin the official currency of the country along with the US dollar, started to make progress in mining. Due to the volcanoes that are abundant in the Latin American country, mining can be done with renewable energy thanks to the heat energy obtained from underground. It was stated that 474 Bitcoins have been mined in the country since 2021.

According to information obtained by the news agency Reuters from official sources, the government of Nayib Bukele, who was re-elected president this year, allocated 1.5 megawatts of the 102 megawatt energy facility in the Tecapa volcanic region to Bitcoin mining. The total number of Bitcoins produced here was 474 BTC in 3 years. It was also informed that 300 devices carried out the mining activity.

As it is known, Bitcoin mining activities have been controversial for years about the source of the energy consumed. While the Western world, in particular, argues that fossil fuels should not be mined, Bitcoin supporters argue that fossil fuels should be extracted from many more areas before Bitcoin mining and that a fair money like Bitcoin should not be questioned on this issue.

In El Salvador, mining with geothermal energy is entirely renewable and clean.

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