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Bitcoin vs. The Volcano

from The Independent via Yahoo! News

El Salvador to use energy from volcanoes for bitcoin mining

by Vishwam Sankaran

El Salvador’s president Nayib Bukele, accompanied by US Ambassador to El Salvador Ronald Johnson (out of frame), speaks during a joint press conference at Rosales Hospital in San Salvador  (AFP via Getty Images)
El Salvador’s president Nayib Bukele, accompanied by US Ambassador to El Salvador Ronald Johnson (out of frame), speaks during a joint press conference at Rosales Hospital in San Salvador (AFP via Getty Images)

Hours after becoming the first nation to authorise bitcoin as a legal tender, El Salvador’s President Nayib Bukele instructed a state-owned geothermal electric company to plan to use geothermal energy from the country’s volcanoes for mining for the cryptocurrency.

“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,” Bukele posted on Twitter.

The Bitcoin law was approved by a “supermajority” gaining 62 out of 84 possible votes within the Central American country’s congress.

[ click to continue reading at Yahoo! ]

Posted on June 12, 2021 by Editor

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