Nayib Bukele Proposes “Rent Your Volcano” for Bitcoin Mining
BTC
El Salvador, known as “America’s volcano country,” is using its volcanic power to mine Bitcoin in a unique and innovative way. President Nayib Bukele recently shared the idea of a “rent your volcano to mine Bitcoin” program, highlighting the country’s geothermal energy potential.
With over 170 volcanoes, El Salvador has tapped into its natural resources to produce clean energy, especially through geothermal power. Geothermal energy now accounts for 25% of the country’s total electricity, thanks to the country’s active volcanoes.
LaGeo, El Salvador’s leading geothermal company, operates two large facilities that generate significant energy from volcanic heat, supplying homes and industries while reducing reliance on fossil fuels.
In 2021, El Salvador became the first country to use geothermal energy for Bitcoin mining, siphoning 1.5 MW from the Tecapa volcano. This mining effort has already yielded 474 Bitcoins worth around $46 million, marking a bold move in merging renewable energy with cryptocurrency.
While this initiative has drawn both praise and concern, the use of geothermal power for mining offers a cleaner alternative to traditional energy sources. It also opens doors for other countries with volcanic activity to follow suit, balancing environmental sustainability with digital innovation.
El Salvador’s geothermal-powered Bitcoin mining is setting a new example for how natural resources can help fund future technological advancements and contribute to the country’s growing role in the global cryptocurrency market.
