Salvadoran President offers a crazy plan? Rent all 170 volcanoes in the country to mine BTC!

Volcano Mining's new strategy, personally announced by the president

Salvadoran President Nayib Bukele recently proposed a bold idea on social media X: renting the country's volcano to BTCMiners. In his post on November 25th, he said that miners can use the geothermal energy generated by these natural wonders to carry out sustainable BTC mining activities.

This inspiration comes from a post that emphasizes El Salvador's successful use of geothermal energy. The country has mined 474 BTC worth about $46 million (approximately 1.4 billion New Taiwan dollars) using geothermal energy. Buggle Lei pointed out that El Salvador has 170 volcanoes, which provide a huge source of energy that could attract miners worldwide who want to drop costs. He said, 'With 170 volcanoes...a plan to 'rent volcanoes for BTC mining' might really make sense.'

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Image source: President Nayib Bukele of El Salvador recently proposed the 'rent a volcano to mine BTC for you' plan on X

The government actively promotes innovation, which is praised by experts.

In response to the President's proposal, Daniel Alvarez, Director of the Salvadoran Energy, Hydrocarbon, and Mining General Bureau, quickly responded. He confirmed that the team will start preparing a new geothermal energy law to promote the implementation of this plan. Meanwhile, Max Keiser, the President's BTC senior advisor, also praised the idea, emphasizing that this will put El Salvador ahead in the global per capita BTC (BPC) race.

He said, "El Salvador's volcano Mining lease will put it in a leading position in the global per capita BTC competition."

El Salvador, known as the 'country of volcanoes' in the Americas, has abundant geothermal energy resources. Geothermal energy currently accounts for 25% of the country's total electricity, mainly benefiting from active volcanic activity. National Geothermal Company LaGeo operates two large facilities that use volcanic heat to generate a significant amount of energy, supplying households and industries while reducing reliance on fossil fuels.

BTC investment profits, national strategy takes effect

This innovative initiative comes at a time when El Salvador's BTC holdings have realized significant unrealized gains in the overall crypto market pump. According to NayibTracker's data, the country holds 6,172 BTC, with unrealized profits exceeding $162 million (about 5.26 billion New Taiwan dollars).

Image source: NayibTracker. El Salvador currently holds 6,172 BTC.

However, the official BTC office data in El Salvador shows a slightly lower holding of 5,949.77 coins, which is worth approximately 574 million US dollars (about 18.6 billion New Taiwan dollars) at the current price.

Image source: Bitcoin Office El Salvador BTC Reserve

Innovation and sustainability go hand in hand, leading the global new trend

El Salvador's initiative to use geothermal energy for BTC Mining sets an example for other countries with volcanic activities, demonstrating how to strike a balance between environmental sustainability and digital innovation. This project not only contributes to the country's economic development but also enhances its position in the global encryption currency market.

Although this move has received widespread praise, it has also sparked some follow. However, using geothermal energy for Mining undoubtedly provides a cleaner alternative to traditional energy sources. With El Salvador actively promoting this innovative project, more countries may follow suit in the future, using natural resources to fund future technological development and gain a foothold in the global encryption currency market.

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'Salvadoran President proposes super crazy plan? Rent 170 volcanoes nationwide to mine BTC for you!' This article was first published in 'encryption city'