Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Bitcoin is being mined in El Salvador with green volcanic energy

Bitcoin is being mined in El Salvador with green volcanic energy

Of the 107 megawatts generated by the plant, five are used for the operation and mining of Bitcoin and the rest for the country's power grid.

Despite being a small country, El Salvador is home to 30 volcanoes, among which 20 are thought to be potentially active.

Geothermal energy generated by these volcanoes is a rich source, which is now being harnessed to mine Bitcoin in a new pilot project in the Central American country.

Bitcoin has been an official currency El Salvador since September with mixed reaction from its citizens.

How can you mine Bitcoin using volcanoes?


The city of Berlin, 112 km south of the capital city San Salvador, has a geothermal plant that was built in 1999. The plant is composed of 16 2,000 to 3,000 deep shafts from which steam circulates and makes three turbines function.

The energy generated by those turbines can reach up to 107 megawatts, but only five are used for the operation and mining of Bitcoin. The rest of the energy is used for the country’s grid.

Thanks to this energy source, about 300 computers can work day and night. Bitcoins are created using computers that solve complex mathematical problems and require a large amount of electricity to operate.


"We have a container where there are a series of processors that are currently working," said Gustavo Cuellar, technical manager of the Rio Lempa Hydroelectric Executive Commission (CEL), the state-owned company on which the plant depends.

"Structurally, renewable energy produces more than it sells," Sebastien Gouspillou, head of BigBlock Datacenter, said.

BigBlock Datacenter is a French bitcoin mining company that advised Salvador on the project.

"Mining is a crutch for renewable energy... a real boon" to use surplus electricity, the entrepreneur told AFP. He also pointed out that mining plants using geothermal energy have already been installed in Iceland.

An eco-geo-political innovation


"The mining industry is in a state of flux after China's crackdown in June," say researchers at Britain's Cambridge University in a recent study.

But for the time being "we lack data to establish how the redistribution of mining activity affects the energy mix of the global grid," the researchers note, estimating the energy consumption of miners at 0.4 per cent of global electricity production.

"We are not reducing the energy supply of El Salvador, on the contrary, we are increasing it, and from the amount that we have increased, we have taken these 1.5 megawatts to start this first step with mining,” Daniel Alvarez, president of for the Rio Lempa Hydroelectric Executive Commission (CEL), argued.

Since September 7, El Salvador has been using Bitcoin as an official currency on a par with the US dollar. In an industry that still relies heavily on polluting coal-fired power plants, the government is touting the use of clean energy for local mining.

Since the legalisation of the cryptocurrency in the country, some 3 million of the 6.7 million Salvadorans have downloaded the government-launched Chivo app for Bitcoin transactions, according to official data.

But the policy of 40-year-old president Bukele is also opposed by some Salvadorans who denounce an "authoritarian government" and "bad ideas that harm the economy, like Bitcoin".

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
The conservative right spreads westward: a huge achievement for 'Alternative for Germany' in local elections
Pope Leo Warns of Societal Crisis Over Mega-CEO Pay, Citing Tesla’s Proposed Trillion-Dollar Package
Poland Green-Lights NATO Deployment in Response to Major Russian Drone Incursion
U.S. and China Agree on Framework to Shift TikTok to American Ownership
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
The New Life of Novak Djokovic
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
France Erupts in Mass ‘Block Everything’ Protests on New PM’s First Day
Poland Shoots Down Russian Drones in Airspace Violation During Ukraine Attack
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Macron Appoints Sébastien Lecornu as Prime Minister Amid Budget Crisis and Political Turmoil
Vatican hosts first Catholic LGBTQ pilgrimage
Apple Unveils iPhone 17 Series, iPhone Air, Apple Watch 11 and More at 'Awe Dropping' Event
France joins Eurozone’s ‘periphery’ as turmoil deepens, say investors
France Faces New Political Crisis, again, as Prime Minister Bayrou Pushed Out
Nayib Bukele Points Out Belgian Hypocrisy as Brussels Considers Sending Army into the Streets
France, at an Impasse, Heads Toward Another Government Collapse
The Country That Got Too Rich? Public Spending Dominates Norway Election
EU Proposes Phasing Out Russian Oil and Gas by End of 2027 to End Energy Dependence
More Than 150,000 Followers for a Fictional Character: The New Influencers Are AI Creations
EU Prepares for War
Trump Threatens Retaliatory Tariffs After EU Imposes €2.95 Billion Fine on Google
Tesla Board Proposes Unprecedented One-Trillion-Dollar Performance Package for Elon Musk
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Big Tech Executives Laud Trump at White House Dinner, Unveil Massive U.S. Investments
Tether Expands into Gold Sector with Profit-Driven Diversification
‘Looks Like a Wig’: Online Users Express Concern Over Kate Middleton
Florida’s Vaccine Revolution: DeSantis Declares War on Mandates
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
"The Situation Has Never Been This Bad": The Fall of PepsiCo
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
The Fashion Designer Who Became an Italian Symbol: Giorgio Armani Has Died at 91
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
×