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[hijodedios]

El Salvador has mined a total of 474 Bitcoin worth $29 million using volcanic geothermal energy since 2021.

The Bitcoin was mined with power from the country’s Tecapa volcano, using 300 mining processors. The country has allocated 1.5 megawatts (MW) to cryptocurrency mining out of the 102 MW produced by the state-owned power plant, according to Reuters.

In the face of increasing scrutiny over BTC mining’s reliance on electricity and fossil fuels, El Salvador has emerged as a pioneer in renewable energy mining.

In 2021, El Salvador made history by becoming the first country to adopt Bitcoin as a legal tender alongside the United States dollar. Since then, the government has adopted several Bitcoin-focused policies, including establishing a geothermal plant to mine BTC.

El Salvador now holds a total of 5,750 BTC worth around $354 million.

Since 2021, global organizations such as the World Bank and others have heavily criticized the Central American nation for adopting Bitcoin.

[Pe27]

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