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 >
Bullish Fundamentals, Bearish Reality: Crypto ‘Clown Market’ Baffles Experts
Bullish Fundamentals, Bearish Reality: Crypto ‘Clown Market’ Baffles Experts
Mar 13, 2025
Crypto markets are down again today, with total capitalization falling back to $2.8 trillion, which is exactly where it was in March 2024, long before the most pro-crypto administration in history was in the White House. On March 13, Chainlink community liaison Zach Rynes described it as the “most bizarre clown market” he’s ever seen in crypto. “We’ve just seen...
Bitcoin Dominance Hits 4
Bitcoin Dominance Hits 4
Mar 13, 2025
Bitcoin market dominance is currently at a 4-year high of more than 62%, its highest level since March 2021, despite its 29% correction. There was a brief spike above this level on Feb. 3, but that appears to be an isolated wick, whereas recent increases have been more sustained, according to Tradingview. Moreover, BTC market share has been steadily rising since...
EU Regulators Probe OKX’s Web3 Role in Bybit Crypto Laundering Case
EU Regulators Probe OKX’s Web3 Role in Bybit Crypto Laundering Case
Mar 12, 2025
European regulators are closely examining the role of OKX in laundering funds from a massive cyber heist on Bybit. National regulatory bodies across the European Union deliberated on the issue during a meeting led by the European Securities and Markets Authoritys (ESMA) Digital Finance Standing Committee on March 6. OKX Faces Intense Scrutiny The focus of the inquiry is OKXs...
Bitcoin’s MVRV Ratio Falls to Yearly Lows – Is This the Ultimate Buy Signal?
Bitcoin’s MVRV Ratio Falls to Yearly Lows – Is This the Ultimate Buy Signal?
Mar 13, 2025
According to CryptoQuant, the cryptocurrency market is currently in an oversold state following a strong correction. Bitcoin holdings for less than one month saw a notable surge in March and December 2024, reaching 23% and 24.5%, respectively. This pattern was accompanied by a market correction, which drove Bitcoins Market Value to the Realized Value (MVRV) ratio of 1.8. This figure...
Copyright 2023-2026 - www.financetom.com All Rights Reserved