El Salvador’s volcanic mining plans

The Republic of El Salvador, A Central American country with a population of about 7 million, became the first country to accept bitcoin as legal tender on June 9, 2021.

In particular, in practice, El Salvador has no money of its own and uses the US dollar, and now bitcoin, as a medium of exchange. Bitcoin will be used to help el Salvadorans send money abroad, and the US dollar will also be considered legal tender, the country’s president, Nayib Bukele, said. He also believes that switching to bitcoin as legal tender will bring “financial accessibility, investment, tourism, innovation and economic development” to El Salvador.

However, Mr. Bukele and his government’s relationship with bitcoin does not end there. They led state geothermal power company La Geo to develop a strategy to provide bitcoin mining facilities using renewable energy sources from the country’s volcanoes.

The moves quickly pushed Mr. Bukele and El Salvador to stardom status in the cryptocurrency community. The use of cheap and renewable resources for cryptocurrency mining was a difficult task and became the focus of miners. The heavy use of fossil fuels and their harmful effects on the environment is the bitcoin critic’s most used weapon.

As the crypto community saw the country and its leader behind “volcano mining,” social networks erupted with admiration and support for these efforts.¬†Meinbest shared its understanding of both volcano energy harvesting and carbon footprint from its current global bitcoin mining operation.¬†MineBest-is a global company founded in 2017, specializing in cryptographic computing, providing professional hosting services for mining bitcoins and other cryptocurrency.

Energy extraction and feasibility from volcanoes
Before we consider bitcoins mining on the basis of volcanoes, it is important to understand exactly what is the collection of energy by a volcano. Volcanoes energy collection I

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