• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / El Salvador to use energy from volcanos for crypto mining after Bitcoin Law receives green signal
El Salvador

El Salvador to use energy from volcanos for crypto mining after Bitcoin Law receives green signal

June 10, 2021 by Sahana Kiran

El Salvador has been making news lately after openly embracing Bitcoin [BTC]. The country’s president seemed to be weighing in on the advancement of crypto in the region. Just as El Salvador garnered a thumbs up from Congress, its president, Nayib Bukele, revealed his plans to spruce up crypto adoption efficiently.

The crypto community was ecstatic after Bukele announced that the country would soon be submitting a bill to Congress to give Bitcoin a legal tender. This move by the government was lauded by many as the prominence of Bitcoin surged. Yesterday, the president took to Twitter and noted that the law had been successfully sent to Congress. Several hours later, Bukele shared another tweet revealing that the region’s lawmakers were crypto-friendly as the bill garnered a green signal by Congress. The tweet read,

The #BitcoinLaw has been approved by a supermajority in the Salvadoran Congress.

62 out of 84 votes!

History! #Btc🇸🇻

— Nayib Bukele (@nayibbukele) June 9, 2021

With this law being accepted, every economic agent in the region would be obligated to accept Bitcoin for payments.

El Salvador eyes volcano-powered crypto mining

President Bukele, in his recent tweet, revealed that the country was looking forward to making better amenities for the mining of crypto. Bitcoin mining has been an extensively controversial topic, mainly after Elon Musk dropped support for the king coin. While several have been calling out the crypto-verse for supporting Bitcoin’s energy-consuming mining process, Bukele was seen taking a different route.

In his tweet, Bukele revealed that he was in talks with Mynor Gil, the president of LaGeo, a state-owned geothermal electric company. Bukele has reportedly been urging the electric company to roll out a Bitcoin mining process that was “very cheap, 100% clean, 100% renewable, 0 emissions energy.” The tweet read,

I’ve just instructed the president of @LaGeoSV (our state-owned geothermal electric company), to put up a plan to offer facilities for #Bitcoin mining with very cheap, 100% clean, 100% renewable, 0 emissions energy from our volcanos 🌋

This is going to evolve fast! 🇸🇻 pic.twitter.com/1316DV4YwT

— Nayib Bukele 🇸🇻 (@nayibbukele) June 9, 2021

Elaborating on the same, he added,

“Our engineers just informed me that they dug a new well, that will provide approximately 95MW of 100% clean, 0 emissions geothermal energy from our volcano.”

While Bitcoin’s price stays intact at $36K, the community speculated that El Salvador’s crypto-friendly announcement could push its value over $40K again.

Filed Under: News, Bitcoin News, World Tagged With: Bitcoin (BTC), el salvador

Primary Sidebar

Recent Posts

  • Ethereum rises to glory in BTC over last 8 months August 14, 2022
  • Cryptocurrency balance freeze of Vauld: Indian saga August 14, 2022
  • Vauld’s Legal Woes Mount After ED Freezes Assets Worth $46M August 12, 2022
  • XRP Rewards Programs Now In Japanese Shinsei Bank August 12, 2022
  • Trexpunks Boosts NFT Market Sentiment With New Features August 12, 2022

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2022 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.