{"id":54257,"date":"2021-12-07T16:35:22","date_gmt":"2021-12-07T14:35:22","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=54257"},"modified":"2025-09-03T19:32:03","modified_gmt":"2025-09-03T16:32:03","slug":"expert-questions-viability-of-geothermal-bitcoin-mining-in-el-salvador","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/expert-questions-viability-of-geothermal-bitcoin-mining-in-el-salvador\/","title":{"rendered":"Expert questions viability of geothermal Bitcoin mining in El Salvador"},"content":{"rendered":"

Using geothermal energy from volcanoes to mine Bitcoin would be more expensive than burning oil. This view is held by the \u043b\u0430\u0443\u0440\u0435\u0430\u0442 \u043f\u0440\u0435\u0441\u0442\u0438\u0436\u043d\u043e\u0439 \u043f\u0440\u0435\u043c\u0438\u0438 \u0441\u0440\u0435\u0434\u0438 \u044d\u043a\u043e\u043b\u043e\u0433\u043e\u0432<\/a> Ricardo Navarro, The Telegraph<\/a> reports.<\/p>\n

\n

\u201cSuch energy is still not cheap, otherwise we would have long since exploited it. As a result of the president’s initiative [El Salvador’s Nayib Bukele]<\/em> we will simply end up buying more oil\u201d,<\/em> \u2014 said the expert.<\/p>\n<\/blockquote>\n

According to the expert, producing geothermal energy requires steam and groundwater, while the country is experiencing a deficit of water resources.<\/p>\n

Navarro’s view is shared by Marit Brommer, executive director of the International Geothermal Association.<\/p>\n

\n

\u201cWhat he [the president] has promised in the next six months looks unfeasible. Resources must be allocated, modelling conducted, wells drilled. Generating electricity will take at least two to three years, if not longer\u201d,<\/em> she explained.<\/p>\n<\/blockquote>\n

In October ForkLog reported<\/a> on Salvadoran testing of mining the first cryptocurrency with geothermal volcanic energy.<\/p>\n

In November the government announced<\/a> the issue of Bitcoin bonds totaling $1 billion.<\/p>\n

Half of the funds raised will go to this project. The other half will go to the construction of Bitcoin City (Bitcoin City). For its power supply, a geothermal power plant will be built near the volcano in the region. Its capacity will also be used for Bitcoin mining.<\/p>\n

In June, Bukele proposed to organise mining<\/a> on clean geothermal energy of volcanoes in the country a bill recognizing Bitcoin as an official means of payment<\/a>.<\/p>\n

The law took effect on September 7<\/a>.<\/p>\n

Subscribe to ForkLog’s channel on YouTube<\/a>! <\/p>\n","protected":false},"excerpt":{"rendered":"

Using geothermal energy from volcanoes for Bitcoin mining would be more expensive than burning oil. This view is held by Ricardo Navarro, a laureate of the prestigious environmental award, The Telegraph reports.<\/p>\n","protected":false},"author":1,"featured_media":54258,"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":[1137,1259,1278],"class_list":["post-54257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-ecology","tag-el-salvador"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54257","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=54257"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54257\/revisions"}],"predecessor-version":[{"id":54259,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54257\/revisions\/54259"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/54258"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=54257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=54257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=54257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}