【El Salvador Aims to Rent 170 Volcanoes to Bitcoin Miners to Disrupt the Industry】
El Salvador's President Nayib Bukele announced an innovative Bitcoin mining plan, proposing to rent the country's volcanoes for miners to use, harnessing geothermal energy to mine Bitcoin. He stated on platform X that El Salvador has 170 volcanoes that can provide sustainable energy for miners. So far, the country has mined 474 Bitcoins using geothermal energy, valued at about $46 million.
Energy Director Daniel Alvarez stated that a new geothermal energy bill will be drafted to support this concept. Bukele's Bitcoin advisor Max Keiser emphasized that this plan will solidify El Salvador's position as a leader in Bitcoin.
Currently, El Salvador holds approximately 5,932 Bitcoins, worth about $585.2 million, with unrealized profits exceeding $168 million. Since making Bitcoin legal tender in 2021, the country has continued to advance its Bitcoin plans despite criticism from institutions like the International Monetary Fund (IMF). Bukele expressed confidence about this on social media, stating: "I said this a long time ago."