El Salvador Mines Bitcoin Using Volcanos

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Last Updated on 2 October 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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I have to admit that I’ve been planning a trip to the canary islands for a while now for my spouse and I. However, seeing that a volcano erupted on the island of La Palma about a week ago, the Canarian tourism board has noticed a drop in bookings to their islands. And who could blame them? If you see the spectacular images of lava flowing into the sea, you might think twice about booking a hotel resort on the next island. Is it possible that an eruption might just hit you?

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Geothermal power

While tourists are afraid of the Canary Islands volcano, over at the other end of the world, in El Salvador to be precise, local President Nayib Bukele plans to use the power of volcanos to mine for Bitcoin.

In a video that he tweeted on 28 September already, Bukele showed how Bitcoin mining rigs were being delivered to a geothermal plant. Specialized crypto enthusiasts recognized ASIC miners being installed and plugged in.

By 1 October, they earned him his first precious Bitcoins. Only $260 in a few hours, but still a start.

The populist politician, who calls himself the coolest dictator in the world said:

We’re still testing and installing, but this is officially the first Bitcoin mining from the volcanode.

You can say what you want about President Bukele who was the first country leader to introduce Bitcoin as legal tender, but there is rarely a dull moment with him.