El Salvador’s President Weighs In Renting Volcanoes To Mine Bitcoin

Quick Summary:

Notable, this idea was sparked through an X post which highlighted that El Salvador has mined 474 Bitcoins now worth $46 Million using volcano -fueled geothermal power.

Notably, Daniel Alvarez, Director General of Energy, Hydrocarbons, and Mines, reacted promptly to the President’s that his team will begin working right away, on the new geo-thermal law to promote the initiative.

The president’s actions have been condemned by ecologists before, who argue that volcano-generated energy will not be able to sustain the demand from mining operations.

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Article Details

Author / Journalist: Nidhi Kolhapur

Category: Crypto

Markets: United StatesEl Salvador

Topics: Crypto news News Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-25 @ 14:05:17 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: coinpedia.org

Language: English

Article Length: 411 words

Reading Time: 3 minutes read

Sentences: 27 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coinpedia

News ID: 23832944

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