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 >
Gary Gensler Remains Steadfast on Crypto Enforcement Despite Looming Ouster 
Gary Gensler Remains Steadfast on Crypto Enforcement Despite Looming Ouster 
Nov 15, 2024
Gensler, who is potentially weeks away from being replaced as the head of the SEC by President-elect Donald Trump, has remained defiant and true to his stance on crypto and enforcement. In a speech in New York on Nov. 14, Gensler said that “not every [crypto] asset is a security.” He added that former SEC Chairman Jay Clayton and himself...
Ripple’s XRP Neared $1, Can Cardano’s ADA Do the Same By 2024’s End?
Ripple’s XRP Neared $1, Can Cardano’s ADA Do the Same By 2024’s End?
Nov 15, 2024
TL:DR; The two best performers from the larger-cap alts over the past few days have been Ripples XRP and Cardanos ADA. Perplexity analyzes each tokens chance to reclaim the coveted $1 price tag by the end of the year. XRP at $1 It seems fueled by the growing speculations that the current SEC chair, Gary Gensler, will step down from...
Ilya Lichtenstein Sentenced to 5 Years in Prison for Role in Bitfinex Hack
Ilya Lichtenstein Sentenced to 5 Years in Prison for Role in Bitfinex Hack
Nov 15, 2024
Ilya Lichtenstein, a 35-year-old programmer, was sentenced to five years in prison for his part in laundering Bitcoin stolen from the Bitfinex crypto exchange. The U.S. Department of Justice (DOJ) announced the sentence, marking a significant development in a case involving the theft of nearly 120,000 BTC, valued at $71.8 million in 2016 but worth over $4.5 billion by the...
Here’s Why Bitcoin’s Rally Is Far From Over as BTC Crosses $91K
Here’s Why Bitcoin’s Rally Is Far From Over as BTC Crosses $91K
Nov 15, 2024
Bitcoin experienced a short-term pullback at the end of the business week, slipping below $87,000 briefly after registering its latest all-time high of nearly $94,000 on Wednesday. However, the worst could be over as the asset has recovered most of the losses and currently sits above $91,000. At the same time, on-chain factors have emerged to suggest that its rally...
Copyright 2023-2026 - www.financetom.com All Rights Reserved