El Salvador President Hints of Geothermal Bitcoin Mining Plant

El Salvador President Nayib Bukele has hinted at a possible Bitcoin mining plant powered by geothermal energy

First steps…

🌋#Bitcoin🇸🇻 pic.twitter.com/duhHvmEnym

— Nayib Bukele 🇸🇻 (@nayibbukele) September 28, 2021

• Bukele took to Twitter to post a video teasing of a power generation facility with technicians working on crypto mining rigs, with the caption indicating first steps, an emoji of a volcano, an El Salvador flag, and #Bitcoin
• The Office of the President did not immediately comment on the post, but it comes months after he announced plans to put up a geothermal Bitcoin mining facility. In June, he said he would order LaGeo to manage a Bitcoin mining plant.
• The country officially legalized Bitcoin as a mode of payment earlier this month, working alongside the greenback. Its legislative assembly passed the Bitcoin Law three months earlier.

The development affirms the possibility of renewable cryptocurrency mining, which has widely been criticized for its environmental impact.

BTC is up 3.20%, ETH up 3.38%, and XRP up 0.15%.

Source: CoinTelegraph