Salvadoran Volcano Powers Record-Breaking Bitcoin Mining Operation
El Salvador has made significant strides in its adoption of Bitcoin as a legal tender, leveraging geothermal energy from the Tecapa volcano to mine a total of 474 BTC worth $29 million since 2021. According to the country's power plant output, 1.5 megawatts (MW) have been allocated to cryptocurrency mining out of the 102 MW produced.
The mining operation utilizes 300 mining processors, with the geothermal energy source providing a clean and sustainable alternative to traditional fossil fuels. This innovative approach has enabled El Salvador to not only reduce its carbon footprint but also generate significant revenue from its Bitcoin holdings.
As of now, the country holds a total of 5,750 BTC worth around $354 million. The adoption of Bitcoin as a legal tender in 2021 marked a historic milestone for El Salvador, and subsequent policies have aimed to further integrate cryptocurrency into the country's financial ecosystem.