{"id":44087,"date":"2021-06-10T09:56:43","date_gmt":"2021-06-10T06:56:43","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=44087"},"modified":"2025-08-31T15:22:28","modified_gmt":"2025-08-31T12:22:28","slug":"el-salvadors-president-proposes-bitcoin-mining-powered-by-volcanic-energy","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/el-salvadors-president-proposes-bitcoin-mining-powered-by-volcanic-energy\/","title":{"rendered":"El Salvador\u2019s president proposes Bitcoin mining powered by volcanic energy"},"content":{"rendered":"<p>El Salvador&#8217;s President Nayib Bukele has ordered the state-owned LaGeo, which runs geothermal energy, to draft a plan for mining Bitcoin facilities.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI\u2019ve just instructed the president of LaGeo to develop a plan proposing Bitcoin-mining facilities powered by very cheap, 100% clean, zero-emission renewable energy from our volcanoes. This will develop rapidly,\u201d Bukele said.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">I\u2019ve just instructed the president of <a href=\"https:\/\/twitter.com\/LaGeoSV?ref_src=twsrc%5Etfw\">@LaGeoSV<\/a> (our state-owned geothermal electric company), to put up a plan to offer facilities for <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> mining with very cheap, 100% clean, 100% renewable, 0 emissions energy from our volcanos \ud83c\udf0b <\/p>\n<p>This is going to evolve fast! \ud83c\uddf8\ud83c\uddfb <a href=\"https:\/\/t.co\/1316DV4YwT\">pic.twitter.com\/1316DV4YwT<\/a><\/p>\n<p>\u2014 Nayib Bukele \ud83c\uddf8\ud83c\uddfb (@nayibbukele) <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1402680890057166858?ref_src=twsrc%5Etfw\">June 9, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to <a href=\"https:\/\/www.thinkgeoenergy.com\/el-salvador-pushing-further-geothermal-development-with-up-to-644-mw-potential\/\" target=\"_blank\" rel=\"noreferrer noopener\">ThinkGeoEnergy data<\/a>, geothermal energy accounted for more than 20% of the electricity consumed in the country as of 2020. With an estimated potential of 644 MW, about a third was being used.<\/p>\n<p>After his statement, the Salvadoran leader clarified that the mining hub would be designed around a newly commissioned 95 MW geothermal well.<\/p>\n<p>On 9 June 2021, El Salvador&#8217;s Legislative Assembly passed a bill on <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-passes-bill-recognizing-bitcoin-as-legal-tender\">recognition of Bitcoin as an official means of payment<\/a>.<\/p>\n<p>According to <a href=\"https:\/\/www.forbes.com\/sites\/nicholasgans\/2021\/06\/09\/el-salvador-president-calls-for-a-volcanic-geothermal-bitcoin-mining-plan\/?sh=2da1165427ec\" target=\"_blank\" rel=\"noreferrer noopener\">Forbes<\/a>, Bukele discussed the law with more than 20,000 listeners in a Twitter audio room hosted by Nick Carter. During the discussion, the president was asked whether he had plans regarding cryptocurrency mining.<\/p>\n<p>He mentioned the possibility of using geothermal energy, part of which is lost due to the distance from consumption points and transmission issues.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe want to promote industrial parks around power plants where one can set up a factory and access cheap, clean, renewable energy,\u201d he noted.<\/p>\n<\/blockquote>\n<p>In his view, such parks could be ideal sites for hosting mining.<\/p>\n<p>Some Bitcoin supporters in the president&#8217;s tweet comments noted that El Salvador could become one of the world\u2019s largest centers for mining cryptocurrencies on renewable energy.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">If all 644 MW of the wasted geothermal energy was used, El Salvador would become one of the largest <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> miners in this hemisphere, while also being 100% renewable.<\/p>\n<p>\u2014 Documenting Bitcoin \ud83d\udcc4 (@DocumentingBTC) <a href=\"https:\/\/twitter.com\/DocumentingBTC\/status\/1402686828130471938?ref_src=twsrc%5Etfw\">June 9, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As discussions about the environmental viability of mining intensified after <a href=\"https:\/\/u1f987.com\/en\/news\/tesla-halts-bitcoin-car-sales-and-roils-the-market\">the statement<\/a> by Tesla founder Elon Musk, ForkLog examined the topic in a piece:<\/p>\n<p>Subscribe to ForkLog&#8217;s news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Salvador&#8217;s President Nayib Bukele has ordered the state-owned LaGeo, which runs geothermal energy, to draft a plan for mining Bitcoin.<\/p>\n","protected":false},"author":1,"featured_media":44088,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1278],"class_list":["post-44087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-el-salvador"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=44087"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44087\/revisions"}],"predecessor-version":[{"id":44089,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44087\/revisions\/44089"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/44088"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=44087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=44087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=44087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}