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 >
4 Reasons to be Bullish on Bitcoin in 2024 (Opinion)
4 Reasons to be Bullish on Bitcoin in 2024 (Opinion)
Aug 19, 2024
2024 has so far been quite eventful for Bitcoin (BTC), whose price is currently hovering around $58,500, or up 40% year-to-date (YTD).  The most successful period for the primary cryptocurrency was in mid-March when it hit a new all-time high of over $73,500. In the following lines, we will explore some important factors that suggest a fresh peak might be...
Decline in Solana Meme Coins Sparks Record $39M Outflows Amid Bearish Shift
Decline in Solana Meme Coins Sparks Record $39M Outflows Amid Bearish Shift
Aug 19, 2024
As the market turned bearish, meme coins on Solana once notorious for their explosive popularity are now seeing a decline. This appears to have adversely affected Solana-based investment products which experienced record outflows of $39 million over the past week due to a sharp drop in meme coin trading volumes. According to the latest edition of CoinShares Digital Asset Fund...
Calm Before the Storm: XRP on the Verge of a Big Move Around This Critical Level (Ripple Price Analysis)
Calm Before the Storm: XRP on the Verge of a Big Move Around This Critical Level (Ripple Price Analysis)
Aug 19, 2024
Ripple is currently trading with minimal volatility near the significant support region of the 200-day moving average at $0.54. Given the importance of the 200-day MA, its likely that this level will hold, providing a foundation for XRP to stage a recovery. XRP Analysis By Shayan The Daily Chart Ripple (XRP) is currently experiencing low volatility as it hovers near...
Huge Breakout in the Cards for Ripple (XRP) Price: Analyst
Huge Breakout in the Cards for Ripple (XRP) Price: Analyst
Aug 19, 2024
TL;DR XRPs price has been volatile, recently settling around $0.57 after a significant drop and partial recovery. Analysts predict a possible breakout, with some targeting a short-term rise to $0.65. What Could Be Next for XRP? The past several weeks have been more than turbulent for Ripples XRP. Its price was trading well above $0.60 at the start of the...
Copyright 2023-2026 - www.financetom.com All Rights Reserved