El Salvador, without any doubt, is a country that is full of surprises, no one expected that such a huge transition of making Bitcoin a legal tender would come from El Salvador, but it did. Despite all the negativity and zero votes of confidence, El Salvador managed to pull this feat which is extremely magnificent on its own. After making Bitcoin a legal tender, El Salvador moved towards making a state-controlled crypto wallet known as Chivo.
The wallet has seen exponential growth too and has brought in an average customer base of 500K and counting. The country keeps on the right track, sourcing motivation from the crypto industry. The latest project initiated by El Salvador is the mining of Bitcoin using the heat energy from erupting volcanoes. This is a new technology even now and is currently doing some renovating, and that is why it will take some time to employ this technology in its full capacity to mine Bitcoin around the clock.
Mining Bitcoin with Volcano Power is a Successful Venture
As of the moment, El Salvador has managed to mine some of the Bitcoin using the geothermal energy from the volcanoes present in the country; the source of the news is the president of El Salvador himself. The new setup employed to harness the geothermal energy is still being tested, and a more professional version of this kit will soon be out there, but they have managed to mine some Bitcoin, even of a temporary set up.
According to president Nayib Bukele so, fat 0.0059 BTC has been mined that is worth approximately $260. It might seem a little insignificant, but it will definitely find traction in the future. President came forward on Twitter to share this wonderful news with the world that this technology is still being tested, and a more professional and completed version of the technology will be employed soon. Volcanoes are pretty abundant in El Salvador, which is why the country is a neutral ground for geothermal energy and using the latest setup which the state is developing. It might be possible to harness that energy into Bitcoin mining; it will definitely not be a free endeavor but will start paying for itself in the long run.