While news of bans on Bitcoin and cryptocurrencies come from China, creative ideas about Bitcoin continue to come from some countries.
Recently, El Salvador announced the establishment of a Bitcoin mining facility that will work with volcanic energy, taking another serious step after recognizing Bitcoin as a legal currency.
El Salvador President Nayib Bukele explained how much Bitcoin was produced with volcanic energy in his social media account.
“We are still testing and installing, but this is officially the first Bitcoin mining from Volcanode,” President Bukele said, adding that 0.00599179 Bitcoins, or about $269, have been mined so far.
— Nayib Bukele 🇸🇻 (@nayibbukele) October 1, 2021
While some analysts comment that El Salvador’s Bitcoin moves are “on its way to becoming the richest country in the world”, some analysts say that it is not on the right track.
It is not the first time that volcanic energy has been used in Bitcoin mining. Like El Salvador, Iceland and Norway also mined Bitcoin with volcanic energy.
In addition, the environmental damage caused by fossil fuel energy used in cryptocurrency mining around the world has been the subject of discussion.
Because Tesla CEO Elon Musk drew attention to this issue and suspended the decision to pay crypto money for Tesla vehicle purchases on the grounds that the energy used in crypto currency mining harms the environment.