Binance News
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El Salvador's president proposes leasing volcanoes for Bitcoin mining
According to ChainCatcher, El Salvador’s President Nayib Bukele has proposed an innovative plan to lease volcanoes to miners for sustainable Bitcoin mining. Miners can use geothermal energy to reduce mining costs.
The inspiration comes from the fact that El Salvador successfully used geothermal energy to mine 474 bitcoins, worth about $46 million. Bukele pointed out that El Salvador has 170 volcanoes, which is an energy treasure trove that attracts miners from all over the world.
Daniel Alvarez, director of El Salvador's General Directorate of Energy, Hydrocarbons and Mines, said the team will draft a new geothermal energy bill to support the plan's implementation.
The inspiration comes from the fact that El Salvador successfully used geothermal energy to mine 474 bitcoins, worth about $46 million. Bukele pointed out that El Salvador has 170 volcanoes, which is an energy treasure trove that attracts miners from all over the world.
Daniel Alvarez, director of El Salvador's General Directorate of Energy, Hydrocarbons and Mines, said the team will draft a new geothermal energy bill to support the plan's implementation.
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