The president also provided a breakdown of the mining rewards so far.
“It’s just geothermal energy,” said bitcoin miner Alejandro de la Torre, who recently El Salvador, a country labeled as the “land of the volcanoes” where geothermal energy makes a fourth of the country’s domestic energy production according to official data. ″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.” The volcano-mining followed El Salvador’s adoption of Bitcoin, declaring the cryptocurrency as a legal tender. In conclusion, the Salvadoran government purchased hundreds of Bitcoin and also launched a national virtual wallet called “Chivo” — a Salvadoran slang for “cool”. It offers no-fee transactions and quick cross-border payments.
