Since 2021, El Salvador has mined 474 bitcoins using geothermal energy from the Tecapa volcano, adding nearly $29 million to its bitcoin portfolio, now worth about $354 million. The government's 5,750 bitcoins are managed by the "Bitcoin Office," which uses 1.5 MW of the 102 MW produced by a state-owned power plant for mining. President Nayib Bukele's administration, supportive of cryptocurrency, installed 300 processors for mining. El Salvador became the first country to adopt bitcoin as legal tender in 2021, drawing criticism from entities like the IMF.
