The nation, which has recently reaped the benefits of integrating Bitcoin into the national economy, has already mined 474 Bitcoin valued at US$46 million using volcanic energy.
“And with 170 volcanoes…a ‘rent your volcano to mine Bitcoin’ program might actually make sense,” Bukele stated on X yesterday.
And with 170 volcanoes…
⁰A “rent your volcano to mine Bitcoin” program might actually make sense 🤔 https://t.co/BENtEqher1— Nayib Bukele (@nayibbukele) November 24, 2024
The country currently holds over 6,000 Bitcoin, with unrealized profits exceeding US$168 million.
El Salvador declared Bitcoin legal tender in 2021 and has continued accumulating the cryptocurrency despite criticism from international financial organizations like the International Monetary Fund (IMF).
A volcanic mining program would represent another innovative approach to cryptocurrency integration.
This strategic move could potentially disrupt global Bitcoin mining by offering low-cost, renewable energy solutions to international miners seeking more sustainable operations.
