October 4, 2021: -El Salvador has mined 0.00599179 bitcoin, or about $269, with energy harnessed from a volcano.
On Friday, President Nayib Bukele tweeted that this is the country’s maiden voyage into volcano-powered bitcoin mining.
On Tuesday, the president posts a flashy 25-second teaser video, including shots of a government-branded shipping container with bitcoin mining rigs, technicians installing and plugging in ASIC miners, and sweeping landscape aerials of an energy factory in the thick of a forest bordering a volcano.
The video that went viral with over 2.3 million views is captioned simply with “First steps…”
Suppose the Central American state is, indeed, minting a new coin. In that case, it will mean that Bukele had made good on a promise first made in June when he said that he had instructed state-owned geothermal electric company, LaGeo SA de CV to “put up a plan to offer facilities for #Bitcoin mining with very cheap, 100% clean, 100% renewable, 0 emissions energy from our volcanos.”
On Friday, Bukele indicated in his tweet that the mining project was still a work in progress and that they are in the process of “testing and installing” a piece of brand new mining equipment.
The president provides a breakdown of the mining rewards so far.
Volcano-powered bitcoin mining has been a thing for a while.
“It’s just geothermal energy,” explained bitcoin miner Alejandro de la Torre, who recently made a move from China to Texas. “Iceland has been doing it since the very, very beginning of bitcoin mining.”
According to official data, El Salvador is dubbed the “land of the volcanoes,” and already, geothermal energy accounts for a fourth of its domestic energy production.
The move by El Salvador is a boon for the larger debate around bitcoin’s carbon footprint.
″A fully renewable, untapped energy resource has been put to work strictly because of bitcoin,” said bitcoin mining engineer Brandon Arvanaghi. “Bitcoin is the greatest accelerant to renewable energy development in history,” he added.
This foray into mining comes after weeks. El Salvador became the first country to declare bitcoin legal tender.
Corporate leaders often navigate turbulent waters where failure is not just a possibility but an inevitable part of the journey …
Corporate leaders play a pivotal role in shaping organizational cultures that embrace diversity and foster inclusivity. How can these …
Corporate leaders occupy a unique vantage point in the business world, offering insights and guidance shaped by their …
Corporate leaders today stand at the nexus of unprecedented technological evolution, where digital transformation reshapes industries and redefines …
Corporate leaders stand at the helm of their organizations, often tasked with making decisions that can steer their companies toward …
Corporate leaders are often tested by crises that threaten the very foundation of their organizations. How do these leaders navigate turbulent …
Corporate leaders often navigate turbulent waters where failure is not just a possibility but an inevitable part of the journey …
Shares of Lululemon Athletica Inc. experienced a significant surge after the company reported strong quarterly earnings driven by robust international …
Systems thinking is an approach that focuses on understanding how different parts of a system interact and influence one another within a whole. It is a holistic framework considering interrelationships and patterns rather than static snapshots. By expanding perspectives, systems thinking clarifies complex situations and can spur innovation.
A definite ‘NO’ to the question if struggling families had child care asked by a group of committed volunteers in the San Fernando Valley in 1974, urged the volunteers to look for a way to support families struggling to find quality child care, development, and education services for their families. That year, the San Fernando Valley Child Care Consortium and the Mayor’s Child Care and Junior Task Force proposed the first child care resource center in the San Fernando Valley. Doris McLain was elected chairperson as Mayor Bradley accepted the proposal and gave the newly founded Child Care Resource Center (CCRC) space in Van Nuys City Hall Center. CCRC began 45 years to help working moms find child care.
Leave us a message
Subscribe
Fill the form our team will contact you
Advertise with us
Fill the form our team will contact you
