There’s a massive volcano responsible for mining 474 Bitcoins in El Salvador – here’s how

Cryptocurrency mining in El Salvador has been very successful in recent months, and it’s powered by an amazing source of energy: the Earth itself.

According to a report by L CryptopolitanThe small Central American nation has mined 474 bitcoins — worth a whopping $29 million — in the past three years, and its facilities are powered almost entirely by geothermal energy.

The operation includes 300 machines and runs entirely on geothermal steam power from Tekapa Volcano. The state power facility attached to the volcano produces 150 megawatts of power, and the state transfers only 1.5 megawatts of that power to the cryptocurrency facility.

El Salvador gained fame in 2021 because it became the first country to adopt Bitcoin as an official legal tender, according to… Reuters. President Nayib Bukele is a prominent supporter of cryptocurrencies in general and Bitcoin in particular, and has established a Bitcoin office to help mine and promote them.

Cryptocurrencies remain a hot topic, largely because of the environmental impact they can have on an area. Scientists have repeatedly He pointed out Cryptocurrency mining uses huge amounts of energy, and when done irresponsibly, it can have a massive impact on ecosystems. Moreover, power often comes from… Dirty energy Sources such as coal and gas, which pump carbon into the atmosphere and directly contribute to the warming of our planet.

Many areas have it Resist Building cryptocurrency mining facilities due to their environmental impact. there movements To limit the impact of cryptocurrency, but these operations are still in their early stages. One notable initiative spoke to researchers from Stanford University, who did just that I released the application To mine cryptocurrency, which significantly reduces the energy used in harvesting the currency.

However, El Salvador shows how Bitcoin mining can be done in a socially and environmentally responsible way, giving hope that we can find more ways to engage in this practice responsibly.

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