{"id":192538,"date":"2021-06-10T08:10:42","date_gmt":"2021-06-10T07:10:42","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=192538"},"modified":"2021-06-10T08:13:27","modified_gmt":"2021-06-10T07:13:27","slug":"fancy-a-bitcoin-mined-via-volcano-el-salvador-is-making-that-happen","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/fancy-a-bitcoin-mined-via-volcano-el-salvador-is-making-that-happen\/","title":{"rendered":"Fancy a Bitcoin mined via volcano? El Salvador is making that happen"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">A geothermal pit dug beside a volcano will help power <\/span><a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\"><span style=\"font-weight: 400;\">Bitcoin<\/span><\/a><span style=\"font-weight: 400;\"> mining operations in El Salvador, the country\u2019s president said in a tweet last night.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cI\u2019ve just instructed the president of\u00a0 @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,\u201d President Nayib Bukele said.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He added in a follow-up tweet, \u201cOur engineers just informed me that they dug a new well, that will provide approximately 95MW (of energy)\u2026.Starting to design a full Bitcoin mining hub around it.\u201d<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Our engineers just informed me that they dug a new well, that will provide approximately 95MW of 100% clean, 0 emissions geothermal energy from our volcanos ?<\/p>\n<p>Starting to design a full <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&ref_src=twsrc%5Etfw\">#Bitcoin<\/a> mining hub around it.<\/p>\n<p>What you see coming out of the well is pure water vapor ?? <a href=\"https:\/\/t.co\/SVph4BEW1L\">pic.twitter.com\/SVph4BEW1L<\/a><\/p>\n<p>&mdash; Nayib Bukele ?? (@nayibbukele) <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1402714926800674827?ref_src=twsrc%5Etfw\">June 9, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><a href=\"https:\/\/cryptoslate.com\/mining\/\"><span style=\"font-weight: 400;\">Mining<\/span><\/a><span style=\"font-weight: 400;\"> \u201cproof-of-work\u201d cryptocurrencies involve using up a massive computing system that solves millions of complex calculations each second to validate transactions on the Bitcoin network.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This requires massive amounts of energy for the maintenance, cooling, running of the machines. But some say as the source of this is via coal and fossil fuel-powered energy producers, it leaves behind a big carbon footprint for seemingly little benefit to the world.<\/span><\/p>\n<h2><b>Greener, cleaner Bitcoin<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Renewable energy sources have sprung up as a solution to this problem. Windmill farms, solar plants, hydroelectric generators\u2014and now, volcanos\u2014have all either in use or soon to be in use to mine cryptocurrencies like Bitcoin.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Such a move helps alleviate the many issues related to mining, and helps battle the energy concerns in a world that promotes greener, cleaner sources of power and human activity.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Until then, however, the <\/span><i><span style=\"font-weight: 400;\">FUD<\/span><\/i><span style=\"font-weight: 400;\"> is coming. A speech by US senator Elizabeth Warren yesterday was the latest instance of a political figure criticizing mining activity. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cBitcoin requires so much computing activity that it eats up more energy than entire countries. One of the easiest and least disruptive things we can do to fight the #ClimateCrisis is to crack down on environmentally wasteful cryptocurrencies,\u201d she said.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin requires so much computing activity that it eats up more energy than entire countries. One of the easiest and least disruptive things we can do to fight the <a href=\"https:\/\/twitter.com\/hashtag\/ClimateCrisis?src=hash&ref_src=twsrc%5Etfw\">#ClimateCrisis<\/a> is to crack down on environmentally wasteful cryptocurrencies. <a href=\"https:\/\/t.co\/derGr1bjuq\">pic.twitter.com\/derGr1bjuq<\/a><\/p>\n<p>&mdash; Elizabeth Warren (@SenWarren) <a href=\"https:\/\/twitter.com\/SenWarren\/status\/1402725005113364486?ref_src=twsrc%5Etfw\">June 9, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">But some like BlockTower founder Ari Paul had a <\/span><a href=\"https:\/\/twitter.com\/AriDavidPaul\/status\/1402769889631293442\"><span style=\"font-weight: 400;\">quick comeback<\/span><\/a><span style=\"font-weight: 400;\"> to that, \u201cSocial media uses more electricity than bitcoin.\u00a0 You could do more for climate change by not tweeting.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Volcanic mining couldn\u2019t come soon enough.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A geothermal pit dug beside a volcano will help power Bitcoin mining operations in El Salvador, the country\u2019s president said in a tweet last night. \u201cI\u2019ve just instructed the president of\u00a0 @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, [&hellip;]<\/p>\n","protected":false},"author":65,"featured_media":192539,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,2376],"tags":[60786],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fancy a Bitcoin mined via volcano? 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