El Salvador’s president demonstrated the alleged first steps toward establishing a geothermal Bitcoin mining operation.
Salvadoran President Nayib Bukele uploaded a video demonstrating the apparent progress of the country’s Bitcoin (BTC) mining operation, which is fueled by volcanic geothermal energy. The movie depicts an overview of a power-producing plant, with technicians turning on crypto mining rigs.
Bukele didn’t go into much detail about the procedure seen in the video, merely writing “initial steps” with a Bitcoin tag and emojis of a volcano and El Salvador’s national flag. The president’s office did not immediately react to a request for comment from Cointelegraph.
Bukele declared ambitions to develop a geothermal Bitcoin mining facility months ago. In June, the president announced that he would appoint LaGeo, a state-owned electricity business, to oversee a Bitcoin mining plant fueled by “very inexpensive, 100 percent clean, 100 percent renewable, 0 emissions energy.”
On September 7, El Salvador formally accepted Bitcoin as legal cash to function alongside US dollars, just three months after the country’s Legislative Assembly passed the “Bitcoin Law.”
The newest step by the Salvadoran government reinforces the enormous potential for Bitcoin supporters to reduce BTC’s carbon footprint by utilizing a variety of renewable energy sources, such as hydroelectric, solar, and wind power.
According to Tesla CEO Elon Musk, Bitcoin already met its renewable energy target in July, implying that the ratio of renewable energy usage was “likely at or above 50%.”
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