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 >
14
14
Jul 15, 2025
A Bitcoin (BTC) wallet holding over 80,000 BTC, untouched for more than 14 years, has sprung to life, liquidating 20,000 BTC worth $2.4 billion and transferring billions more to institutional custodian Galaxy Digital. The sudden movement of these ancient coins, originating from Bitcoins earliest days, has sent ripples of anxiety through the market, drawing stark parallels to the Mt. Gox...
Fed, FDIC, OCC Clarify How Banks Can Handle Your Crypto
Fed, FDIC, OCC Clarify How Banks Can Handle Your Crypto
Jul 15, 2025
TL;DR Federal regulators say banks can offer crypto custody, but only with strong risk controls in place. Reputational risk is no longer a factor, opening doors for crypto-bank partnerships. OCC, FDIC, and Fed push for secure handling of keys, data, and evolving crypto risk frameworks. Agencies Explain Rules for Crypto Custody On Monday, the Federal Reserve, FDIC, and OCC issued...
Tom Lee Targets Huge Gains for Ethereum as ETH Hits 5
Tom Lee Targets Huge Gains for Ethereum as ETH Hits 5
Jul 15, 2025
Thomas Lee has pointed out that Ethereum has been largely range-bound since 2021. The asset has gained 22% over the past month, but remains down 10% on the year. However, that could all be about to change due to the rise of stablecoins and Wall Street tokenizing real-world assets, which is “driving up demand for ETH,” and will result in...
Ripple (XRP) Price Predictions for This Week
Ripple (XRP) Price Predictions for This Week
Jul 15, 2025
XRP buyers returned in force and took the price to $3 earlier this week, but the asset slipped below it in the following days. Whats next? Key Support levels: $2.6 Key Resistance levels: $3, $3.4 1. Buyers Rush to XRP In the past week, the buy volume has exploded, and with it, the price. XRP went from $2.3 to $3...
Copyright 2023-2026 - www.financetom.com All Rights Reserved