According to ChainCatcher, Salvadoran President Nayib Bukele proposed an innovative plan to lease the country's volcanoes to miners for sustainable Bitcoin mining. Bukele stated on social media on November 25 that miners could use the geothermal energy generated by the volcanoes to reduce mining costs. This idea was inspired by a previous post that showcased El Salvador successfully using geothermal energy to mine 474 Bitcoins, worth approximately $46 million.
Bukele pointed out that El Salvador has 170 volcanoes, making it a rich energy reservoir that can attract miners from around the world. He wrote, "With 170 volcanoes, it actually makes a lot of sense to launch a 'rent a volcano for Bitcoin mining' program."
In response, Daniel Alvarez, director of the Salvadoran Energy, Hydrocarbons and Mines Authority, stated that the team will begin drafting a new geothermal energy bill to support the implementation of the plan.
