{"id":1322,"date":"2024-05-15T14:36:28","date_gmt":"2024-05-15T14:36:28","guid":{"rendered":"http:\/\/ci02dd76d3a0002554"},"modified":"2024-05-15T14:36:28","modified_gmt":"2024-05-15T14:36:28","slug":"volcano-bitcoin-mining-gives-el-salvador-29-million-boost","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/volcano-bitcoin-mining-gives-el-salvador-29-million-boost","title":{"rendered":"Volcano Bitcoin Mining Gives El Salvador $29 Million Boost"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p><a href=\"https:\/\/bitcoinmagazine.com\/el-salvador-bitcoin-news\">El Salvador<\/a> has mined nearly 474 bitcoins worth around $29 million since September 2021 using geothermal energy from the Tecapa volcano, official data revealed. This boosts the country&#8217;s total bitcoin holdings to 5,750 BTC valued at over <a href=\"https:\/\/nayibtracker.com\/\" target=\"_blank\" rel=\"noopener\">$360 million.<\/a><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: \ud83c\uddf8\ud83c\uddfb El Salvador mined nearly 474 <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#bitcoin<\/a> worth $29 million using volcano-fueled geothermal power in last three years, Reuters reports. <a href=\"https:\/\/t.co\/bBACoe9GzM\">pic.twitter.com\/bBACoe9GzM<\/a><\/p>\n<p>&mdash; Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1790568657715605534?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">May 15, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The <a href=\"https:\/\/bitcoinmagazine.com\/business\/volcano-energy-bitcoin-mining-pool-goes-live\">renewable energy mining <\/a>operation is a collaborative effort between El Salvador and bitcoin mining firms like Foundry USA, Antpool, ViaBTC, F2Pool, and Binance Pool. It utilizes the geothermal power from Tecapa, one of El Salvador&#8217;s many active volcanoes.<\/p>\n<p>Of the 102 megawatts generated by the state-owned geothermal power plant beside the volcano, 1.5 megawatts go toward Bitcoin mining. President Nayib Bukele has installed 300 specialized mining processors to facilitate the process.<\/p>\n<p>El Salvador made headlines in 2021 by becoming the first country to adopt bitcoin as legal tender. Despite criticism from the IMF and others, Bukele has remained committed to Bitcoin, with a Bitcoin mining operation powered by volcano-fueled geothermal energy embodying this forward-thinking approach.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/bm-x-unchained-article-cta-learn-more.png\" title=\"\"><\/figure>\n<p>The country&#8217;s mining accomplishments stand in stark contrast to the scrutiny bitcoin miners face worldwide over energy usage. By tapping geothermal energy from Tecapa, El Salvador provides a renewable model for potential adoption elsewhere.<\/p>\n<p>The $29 million mined demonstrates the substantial, real-world value unlocked by El Salvador&#8217;s status as the first Bitcoin nation. As more renewable mining comes online globally, the country&#8217;s volcanic model provides an ambitious precedent.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Salvador taps volcano geothermal energy to mine 474 bitcoins worth $29 million, showcasing renewable Bitcoin mining possibilities.<\/p>\n","protected":false},"author":2513,"featured_media":26626,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[189,238,257,93,661],"class_list":{"0":"post-1322","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-bitcoin-mining","9":"tag-el-salvador","10":"tag-nayib-bukele","11":"tag-news","12":"tag-volcano-energy"},"author_data":{"id":2513,"name":"Vivek Sen","nicename":"vivek-sen-bitcoin","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/03\/cropped-vivek-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/volcano-bitcoin-mining-1.png","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/1322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2513"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=1322"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/1322\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/26626"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=1322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=1322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=1322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}