financetom
Cryptocurrency
financetom
/
Cryptocurrency
/
Explained: How volcanoes can help clean up crypto mining
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Explained: How volcanoes can help clean up crypto mining
Jun 24, 2021 10:21 AM

El Salvador President Nayib Bukele has been in the news for two reasons -- his plans to tap into geothermal energy as an alternate source of power and adopting Bitcoin as legal tender.

President Bukele tweeted that he had “instructed the president of LaGeoSV to put a plan to offer facilities for Bitcoin mining energy from our volcanos” as he has legalised Bitcoin as another form of digital currency in El Salvador.

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

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Riot Achieves $84.8M Revenue Boost in Q3 2024, But Future Hash Rate Capacity Predictions Revised Lower
Riot Achieves $84.8M Revenue Boost in Q3 2024, But Future Hash Rate Capacity Predictions Revised Lower
Nov 3, 2024
Bitcoin mining firm Riot recorded $84.8 million in revenue in the third quarter of 2024, representing a 65% increase over the same quarter in 2023. This growth can be attributed to the 159% year-over-year increase in deployed hash rate which reached 28 EH/s by the end of the quarter. Riots Q3 Financial Results According to the official press release, the...
As Bitcoin Nears Record Highs, $500B Missing from Altcoin Markets
As Bitcoin Nears Record Highs, $500B Missing from Altcoin Markets
Nov 3, 2024
The last two times bitcoin prices made new all-time highs, total crypto market capitalization was around $3 trillion. On Nov. 10, 2021, the metric topped $3 trillion when BTC hit its cycle peak of $69,000. Total capitalization also neared the $3 trillion mark in March this year when the asset made its all-time high of $73,738. However, as BTC closes in...
Why Is the Shiba Inu (SHIB) Price Up Today?
Why Is the Shiba Inu (SHIB) Price Up Today?
Nov 3, 2024
TL;DR Shiba Inu showed strong performance in line with the crypto market’s bullish trend. Increased SHIB burns and Shibarium transactions signal ecosystem growth, though RSI above 70 suggests a possible short-term pullback. SHIB Heads North The second-largest meme coin in terms of market cap experienced a substantial resurgence in the past 24 hours, with its price tapping a one-month high...
BlackRock Bitcoin ETF Sees Huge $640M Inflow as BTC Topped $73K
BlackRock Bitcoin ETF Sees Huge $640M Inflow as BTC Topped $73K
Nov 3, 2024
The BlackRock iShares Bitcoin Trust (IBIT) recorded a whopping $642.9 million in inflows on Oct. 29, according to Farside data. It is the largest inflow since March 12 bringing the total net inflow for all funds to $870.1 million, the highest since June 4. Bloomberg ETF analyst Eric Balchunas observed that the fund also saw its largest trading volume day...
Copyright 2023-2026 - www.financetom.com All Rights Reserved