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 >
Bitcoin, Ethereum ETF Weekly Recap: Substantial Outflows Amid Pessimistic US Economy Outlook
Bitcoin, Ethereum ETF Weekly Recap: Substantial Outflows Amid Pessimistic US Economy Outlook
Aug 3, 2024
The second week of trading for the spot Ethereum ETFs saw again more withdrawals than inflows, perhaps driven by the uncertainty in the US economy. The spot Bitcoin ETFs also closed the business week on the wrong foot, with nearly $240 million leaving the financial vehicles. Data from FarSide shows that Fidelitys FBTC was the biggest loser on August 2...
ChatGPT Analyzes the Effect on Bitcoin’s Price if the USA Makes BTC Legal Tender
ChatGPT Analyzes the Effect on Bitcoin’s Price if the USA Makes BTC Legal Tender
Aug 3, 2024
TL;DR Adopting BTC as a legal tender in the US would enhance its legitimacy and attract substantial investment, potentially boosting the price. This move could lead to market volatility with sharp movements due to speculative buying and unpredictable investor reactions. What if the US Embrace BTC? The United States will soon have a new President, with the elections scheduled for...
Bitfarms’ Operational Hash Rate Hits 11.1 EH/s, Up 109% from Last Year
Bitfarms’ Operational Hash Rate Hits 11.1 EH/s, Up 109% from Last Year
Aug 2, 2024
Toronto-based Bitcoin mining company Bitfarms announced that its operational hash rate reached 11.1 EH/s by the end of July, marking a 109% year-over-year increase and a 7% rise month-over-month. The average operational hash rate for the month was 10.3 EH/s, up 36% from June. Despite a 1% decline in Bitcoin per EH/s due to a surge in network difficulty, Bitfarms...
Marathon Digital Falls Short of Revenue Prediction, Shares Plunge 8%
Marathon Digital Falls Short of Revenue Prediction, Shares Plunge 8%
Aug 2, 2024
Marathon Digital (MARA) saw its shares drop over 8% in after-hours trading on Thursday following a second-quarter revenue report that fell short of Wall Street’s forecasts. However, the stock has since recovered some of these losses. Marathon Digital Sees a Revenue Miss Marathon Digital reported second-quarter revenue of $145.1 million, falling short of Wall Streets forecast of $157.9 million, approximately...
Copyright 2023-2026 - www.financetom.com All Rights Reserved