Does money grow in volcanoes? El Salvador explores bitcoin mining

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Does money grow in volcanoes?  El Salvador explores bitcoin mining


THE SAVIOR: The SaviorPresident Nayib Bukele said on Wednesday that he had instructed state geothermal electricity company LaGeo to develop a plan to offer bitcoin mining facilities using renewable energy from the country’s volcanoes.
El Salvador became the first country in the world to adopt bitcoin as legal tender after his Congress approved Bukele’s proposal to adopt cryptocurrency.
“This is going to evolve quickly!” Bukele said on Twitter.
The announcement by the Central American leader has highlighted the environmental impact of cryptocurrencies, which are virtual currencies that are exchanged without intermediaries, such as central banks, to buy goods and services.
However, the process of mining currency from cyberspace requires large amounts of energy.
Total C02 emissions from the global bitcoin industry have risen to 60 million tons, equivalent to the exhaust of about 9 million cars, according to a March report by Bank of America analysts.
Later on Wednesday, Bukele shared a video on his Twitter account showing a powerful column of what he said was pure water vapor projected into the air from a pipe.
“Our engineers just informed me that they dug a new well, which will provide approximately 95MW of 100% clean geothermal energy with no emissions from our volcanoes,” said Bukele.
“Starting to design a complete #Bitcoin mining hub around it,” he added.
Bukele also changed his Twitter profile photo to an edited image of himself with blue laser eyes, a popular internet fad among cryptocurrency supporters.
His previous photo, updated when he announced his intention to send an invoice to legalize bitcoin, showed him with red laser eyes.

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