El Salvador, the first country in the world to legalize bitcoin, plans to use a variety of renewable energy sources to operate its cryptocurrency mining sites, the head of the country’s hydropower committee said earlier this week.
“The possibilities here are endless, it just depends on the willpower and whether we have the tools and the ability to launch these projects,” said Daniel Alvarez, the state’s Lempa River Hydroelectric Executive, on Friday. President of the Commission (CEL), stating that El Salvador has the resources to generate electricity for mining through hydropower, solar, wind and tidal power plants.
Cryptocurrency mining is energy intensive requires energy, mainly from fossil fuels, which has made it the target of environmental criticism worldwide. But El Salvador wants to change that. Last month, the country’s government began using geothermal energy for bitcoin mining from a power plant at the foot of Tecapa Volcano. The power plant produces about 102 megawatts of energy. There are 20 volcanoes in the Central American country, and nearly a quarter of all domestic energy production is generated by geothermal energy. a fraction of bitcoin. According to a statement made on Twitter by President Nayib Bukele, the mining operation produced 0.00599179 bitcoins, or about $ 269.
About 1.5 megawatts from the Tecapa power plant are currently used for bitcoin mining, a they will be carried out in a ship container with 300 computers set up near the power plant to process cryptocurrency transactions, Reuters reported.
In June this year, the Congress of El Salvador approved a proposal to adopt bitcoin as legal tender. In September, President Bukele announced that his government had purchased the first 400 bitcoins. It has since become clear that another country is introducing Bitcoin as its official currency.
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