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 >
Elon Musk Backs Blockchain to Help US Treasury Fight Fraud
Elon Musk Backs Blockchain to Help US Treasury Fight Fraud
Feb 3, 2025
Elon Musk, who leads President Donald Trump’s Department of Government Efficiency (D.O.G.E.), has called out the U.S. Treasury for approving fraudulent payments and suggested blockchain as a solution. His remarks came in response to concerns about inefficiencies and mismanagement in the Scott Bessent-led department. Could Blockchain Solve Treasury Fraud? The controversy started when Musk took to X on February 2,...
Donald Trump’s TRUMP Meme Coin Profits Dwarf Bored Ape’s Otherside Launch
Donald Trump’s TRUMP Meme Coin Profits Dwarf Bored Ape’s Otherside Launch
Feb 3, 2025
Both TRUMP and MELANIA have plunged significantly from their pre-inauguration frenzy. To top that, certain industry experts also expect the two meme coins to test regulators boundaries under President Trump. While intense scrutiny continues, newly revealed data estimates that Trump has made hundreds of millions from his own meme coin launch. Trumps Crypto Windfall According to the latest update by...
World Liberty Financial Loses $51.7M in Crypto Amid Trump’s Tariff Impact
World Liberty Financial Loses $51.7M in Crypto Amid Trump’s Tariff Impact
Feb 3, 2025
Trumps tariffs have not only shaken financial markets but have also impacted World Liberty Financial’s crypto holdings amid escalating trade tensions. With uncertainty looming, market participants wonder if this downturn presents a buying opportunity for long-term accumulation. WLFIs Crypto Portfolio Decline World Liberty Financial (WLFI), backed by US President Donald Trump, recently invested $242.77 million in cryptocurrencies between January 19...
Governance Votes in Favor of Proposal 6 to Resolve THORChain’s Liquidity Crisis
Governance Votes in Favor of Proposal 6 to Resolve THORChain’s Liquidity Crisis
Feb 3, 2025
THORChains governance body has passed Proposal 6 as part of its restructuring efforts to resolve a nearly $200 million debt crisis. The approved plan involves converting defaulted debt into TCY (Thorchain Yield) equity tokens, eliminating the need for a private raise, and leveraging existing treasury funds to facilitate recovery. Under this framework, 200 million TCY tokens will be minted and...
Copyright 2023-2026 - www.financetom.com All Rights Reserved