El Salvador started mining bitcoin with volcanoes

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Quick Take El Salvador mined bitcoin using geothermal energy, according to its president. The setup is still being tested and installed, but bitcoin is already creeping in.

El Salvador has officially started using volcanoes to mine bitcoin, according to its president Nayib Bukele. So far, he has mined 0.0059 BTC, worth $ 260.

“We were still testing and installing, but this is officially the first Bitcoin mining from the volcano,” Bukele tweeted, providing a breakdown of mining rewards so far.

The distribution of rewards so far. Image: Nayib Bukele.

Bitcoin is mined using geothermal energy generated by volcanoes in the region. The country is heavily dependent on geothermal energy and is one of the main producers in the world.

It comes after Bukele tweeted a video on September 28, which showed mining rigs delivered and installed at the El Salvador facility. In the video, you can see ASIC miners installed and plugged in.

Last month, El Salvador became the first country to make bitcoin legal tender. He also created the Chivo wallet allowing citizens to access the Bitcoin network and make payments. He handed out $ 30 worth of bitcoin to everyone who signed up.

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2021 The Block Crypto, Inc. All rights reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.

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