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 Long
Bitcoin Long
Aug 29, 2024
The realized capitalization of Bitcoin long-term holders (LTH) surpassed $10 billion this week for the first time ever. This highlighted the growing confidence among investors who hold the asset for extended periods, typically more than 155 days. The LTH metric is particularly crucial because it reflects the conviction of these holders in Bitcoins long-term potential, as they are less likely...
Bitcoin’s Massive Price Plunge to $58K Triggered Over $320 Million in Liquidations
Bitcoin’s Massive Price Plunge to $58K Triggered Over $320 Million in Liquidations
Aug 29, 2024
Bitcoins price movements took a massive turn for the worse in the past 24 hours as the asset plummeted to a 9-day low of just over $58,000. The altcoins have bled out heavily as well, with notable declines from the likes of ETH, SOL, DOGE, LINK, AVAX, SHIB, and others. The total value of liquidations is well above $300 million....
Cardano’s Chang Hard Fork Set to Deploy on September 1: Here’s What You Need to Know
Cardano’s Chang Hard Fork Set to Deploy on September 1: Here’s What You Need to Know
Aug 29, 2024
One of the biggest upgrades on the Cardano network is set to be deployed in the next three days. It will introduce new features and finalize the blockchains transition into a community-run network. The Chang hard fork was initially scheduled to go live on Tuesday, August 27, per an announcement on August 20; however, Cardano founder Charles Hoskinson revealed on...
Bitcoin Sees Increasing Correlation With Equities But Remains Relatively Weaker: Bitfinex
Bitcoin Sees Increasing Correlation With Equities But Remains Relatively Weaker: Bitfinex
Aug 29, 2024
Bitcoin’s correlation with the U.S. equities market has been rising for more than a month, as seen in the collective plunge and rally across different asset classes during the Japanese yen crisis earlier this month and the Federal Reserve’s statements at the Jackson Hole symposium last week. According to the recent edition of the Bitfinex Alpha report, the Pearson Correlation...
Copyright 2023-2026 - www.financetom.com All Rights Reserved