El Salvador mines 474 Bitcoin using Geothermal Volcanic Energy!#bitcoinhalving

El Salvador has recently made headlines by mining 474 Bitcoin, valued at $29 million, using geothermal energy from the Tecapa volcano. This brings their total Bitcoin holdings to 5,750 BTC, worth approximately $354 million.

Since 2021, the country has allocated 1.5 megawatts (MW) of its 102 MW geothermal power production to cryptocurrency mining. El Salvador's commitment to renewable energy mining stands as a significant step amidst global concerns about Bitcoin's environmental impact.

President Nayib Bukele's support for Bitcoin has remained unwavering, even in the face of criticism.

Despite this, he secured a resounding victory in the 2024 presidential election. Meanwhile, debates surrounding Bitcoin's environmental impact persist, with calls for a shift from proof-of-work to proof-of-stake mining algorithms. $BTC