Bitcoin mining using volcanic energy soon a reality in El Salvador
According to recent data, the energy consumption of cryptocurrency mining can reach 143 TWh per year. However, this Central American country announced back in June that it has an energy consumption plan aiming to mine Bitcoin with a minimal impact on the environment.
El Salvador made a splash on the crypto scene by becoming on June 9th the first country to adopt bitcoin as legal tender. An adoption that became reality this September 7th. The long-awaited event was accompanied by protests, technological glitches, and a relative correction of Bitcoin. But the announcement was followed by the crypto community around the globe who didn’t hesitate to offer their support in response to this historic event.
President Nayib Bukele didn’t let the attention fall. He announced back in June that the country would use a spectacular source of energy in Bitcoin mining: volcanoes.
According to a video posted on the Salvadorian president’s Twitter official account, it’s a promise that’s already starting to take shape.
According to a tweet posted by the president of El Salvador on June 9th, LaGeo SV (the Salvadorian public entity that produces geothermal electricity) has already been instructed to elaborate a plan to provide Bitcoin mining facilities with “100% clean, 100% renewable, 0 emissions energy from our volcanos”.
Extracting the energy of volcanoes might seem unusual, but it’s a serious and profitable option for El Salvador when itcomes to bitcoin mining. There are several proven techniques for harnessing heat (Geothermal energy) from the earth to generate electricity. They mostly rely on heating a water circuit using the high temperatures of the rock. The heated water then produces steam, which power turbines, thus creating electricity.
