El Salvador to Utilize Volcanic Energy to Mine Bitcoin
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El Salvador to Utilize Volcanic Energy to Mine Bitcoin

June 10, 2021      Sahaj Sharma

After adopting Bitcoin as legit tender alongside the Dollar, El Salvador is looking forward to mine BTC utilizing the energy of its volcanos. It looks like the President of El Salvador is getting restless when it comes to bitcoin and has forgotten how to go slow. 

El Salvador to Mine Bitcoin Using Volcanic Energy

As revealed in the announcement made over the weekend by the President of El Salvador, he was working on a program to adopt Bitcoin as a legit tender. Not long enough, just after three days, he introduced a bill to the assembly regarding the same, and hours later, it was a law in El Salvador.

After the announcement of this historic event, Nayib Bukele revealed another move on the way of the promotion of the mining of the flagship cryptocurrency, that too with environment-friendly ways.

Well, as of now, it will be difficult to say whether the President was considering mining BTC prior to the announcement made. 

However, Nayib Bukele made sure during a Twitter Conference that took place while the discussion of the Bitcoin Law was going on, that initially, he did not consider Bitcoin mining, but later, he found this approach interesting.

In just a matter of few hours, Nayib gave instructions to the President of the National Electricity Company to come up with a plan to extract Bitcoin with the help of thermal energy.

BTC Listed as One of the Official Currencies of the Country

Soon after the country adopted Bitcoin as legal tender, Wikipedia listed Bitcoin as one of the official currencies of El Salvador.

In addition to this, the interesting fact is that the country will be granting citizenship to anyone that invests in Bitcoin into the economy of the country. 

After El Salvador, Paraguay began working on projects that involved Bitcoin and PayPal.

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Sahaj Sharma
Sahaj Sharma

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.