el Salvador bitcoin mining
While China is doing all it can to crush digital assets like Bitcoin, El Salvador is actively pushing the frontiers of Bitcoin adoption by a sovereign nation.
The President of El Salvador, Nayib Bukele has posted videos showing what could be the world’s first public Bitcoin mining facility powered by electricity obtained from volcanoes.
So far, the tweet has gathered over 28k likes and has been retweeted 7.6k times with over 1600 comments, including from Bitcoin enthusiasts and influencers like Kraken’s Dan Held, Jay Hao of OKEx, and the pseudonymous Hodlnaut.
“I’ve just instructed the president of @LaGeoSV (our state-owned geothermal electric company), to put up a plan to offer facilities for #Bitcoin mining with very cheap, 100% clean, 100% renewable, 0 emissions energy from our volcanos,”President Bukele
President Bukele has not held back his Bitcoin dream despite encountering countless opposition, and if the past is anything to go by the crypto fanatic president could be pioneering what could be the world’s first volcano-powered Bitcoin farm.
El Salvador’s new law makes Bitcoin legal tender, joining the U.S. dollar as the only other official currency in the country.
According to the law, about 70% of the country’s population does not have access to “traditional financial services.” President Bukele said he hopes that making Bitcoin legal tender will drive investment in the nation and increase the wealth of its citizens.