After adopting BTC as a legal tender, El Salvador has begun mining the popular cryptocurrency with thermal energy from volcanoes. President Nayib Bukele shared an image that showed 0.00599179 BTC ($285.73) of current bitcoin mined using this form of energy. The result of this mining method reduces our harsh fees for the country’s international transactions. The FUD about cryptocurrencies is also a major concern for some citizens, which has led to demonstrations across the country.
The geothermal facility was teased in a video tweeted by Salvadoran president Nayib Bukele late last month. Why geothermal energy? The mining of BTC and some Altcoins require a lot of electricity. By using renewable energy, El Salvador implements measures to limit climate issues surrounding crypto mining which are cheaper and with zero emissions.
Utilising variety of renewable energy including hydropower, solar, and wind power, El Salvador has highlighted the huge potential for Bitcoin enthusiasts to decrease BTC's carbon emissions. More nations will follow the lead of Latin America, according to Cardano's founder Charles Hoskinson. Also, Edward Snowden tweeted:
Today Bitcoin was formally recognised as legal tender in its first country. Beyond the headlines, there is now pressure on competing nations to acquire Bitcoin—even if only as a reserve asset—as its design massively incentivises early adoption. Latecomers may regret hesitating