{"id":12671,"date":"2021-09-29T21:54:14","date_gmt":"2021-09-29T21:54:14","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/salvadoran-president-shares-video-of-volcano-powered-bitcoin-mining-facility\/"},"modified":"2021-09-29T21:54:14","modified_gmt":"2021-09-29T21:54:14","slug":"salvadoran-president-shares-video-of-volcano-powered-bitcoin-mining-facility","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/salvadoran-president-shares-video-of-volcano-powered-bitcoin-mining-facility\/","title":{"rendered":"Salvadoran President Shares Video of Volcano-Powered Bitcoin Mining Facility"},"content":{"rendered":"

On Tuesday, Salvadoran president Nayib Bukele shared a video of a bitcoin mine operating adjacent to a volcano. Bukele discussed the volcano-powered bitcoin mining on June 9 when he talked about the \u201c95MW of 100% clean, 0 emissions geothermal energy from our volcanos.\u201d<\/strong><\/p>\n

El Salvador\u2019s Nayib Bukele Shares a Video of the \u2018First Steps\u2019 Behind the Volcano-Powered Bitcoin Mine Construction<\/h2>\n

The president of El Salvador shared a video<\/a> via the social media platform Twitter that said \u201cFirst steps,\u201d as the film shows ASIC bitcoin mining rigs being installed at a geothermal energy plant. The video shows containers that are emblazoned with the Salvadoran government logos and a large quantity of ASIC mining devices. The video has been viewed around 2 million times on Twitter, and Bukele\u2019s video tweet has over 50K likes and over 12,000 retweets.<\/p>\n

First steps\u2026<\/p>\n

?#Bitcoin<\/a>?? pic.twitter.com\/duhHvmEnym<\/a><\/p>\n

\u2014 Nayib Bukele ?? (@nayibbukele) September 28, 2021<\/a><\/p>\n<\/p>\n

While many bitcoin proponents said the mining facility was \u201cimpressive,\u201d a few Salvadoran citizens complained about the use of energy. \u201cSo, there are centers to produce more energy, but to mine bitcoin,\u201d one individual asked<\/a> the Salvadoran president. \u201cPeople who have been waiting for electricity for more than 30 years. Not that you would help those most in need? Hypocrite,\u201d the person added.<\/p>\n

A lot of people gave the woman flak for asking Bukele that question, but a number of people stuck up for her. \u201cShe just wonders, like any normal person,\u201d another individual replied<\/a> in Nayib Bukele\u2019s tweet thread. \u201cWhy is there money to set up power plants for [bitcoin] mining and there is no money to supply the entire population. Before insulting people, make an argument,\u201d the person added<\/a>. Besides the introduction to volcano-powered bitcoin mining<\/a> this past June, Bukele also discussed the subject in greater detail on an episode of \u201cWhat Bitcoin Did<\/a>.\u201d<\/p>\n

\u2018Very Clean Source of Energy With Almost No Downsides,\u2019 Project Construction to Cost $480 Million<\/h2>\n

The Salvadoran president told the host Peter McCormack about how \u201cEl Salvador has not been the country that\u2019s recognised to be the first in innovation,\u201d but he asked, \u201cWhy not this time?\u201d<\/p>\n

While Bukele stressed during his interview that geothermal energy was \u201ca very, very clean source of energy\u201d and that it has \u201calmost no downsides,\u201d the Salvadoran president did not go over the subject of specific Salvadorans not having access to electricity. \u201cCurrently, the electrification index is 83.4%\u201d in El Salvador according to the latest statistics<\/a>. Major urban areas in El Salvador have around 97% access to electricity, while ruralized regions in the country today show an electrification index estimate of around 72%.<\/p>\n

El Salvador is the largest producer of geothermal energy in Central America and in July, the country suffered from a massive power outage<\/a>. The Regional Operator Entity (EOR) based in El Salvador told the press that they witnessed a \u201cload loss of 2,300 megawatts.\u201d<\/p>\n

The power outage in El Salvador and other regions in Central America cost around $18.2 million from failures. \u201cThe demand we had at that time was around 8,300 megawatts in the Central American region. We have lost 30% of the electrical power load,\u201d the EOR director, Ren\u00e9 Gonz\u00e1lez, told<\/a> reporters.<\/p>\n

When discussing the volcano bitcoin mining experiment with Peter McCormack, Bukele emphasized that the project will be costly. \u201cIt\u2019s going to cost $480 million, so that\u2019s going to be a legacy for the country because we are building infrastructure paid by bitcoin,\u201d Bukele said in his interview. Alongside this, demand for electricity in El Salvador is expected to grow annually at a rate of 5% year-over-year.<\/p>\n

What do you think about the \u2018first steps\u2019 volcano-powered bitcoin mine video shared by Salvadoran president Nayib Bukele? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

Bitcoin News
\nMining, $480 million, Bitcoin Mine, Bitcoin mining, BTC, Central America, El Salvador, energy volcanoes, EOR director, geothermal energy, geothermal mining, la geo, lageo, mining bitcoin, Nayib Bukele, power outage, Ren\u00e9 Gonz\u00e1lez, volcano mining, volcanoes<\/p>\n","protected":false},"excerpt":{"rendered":"

On Tuesday, Salvadoran president Nayib Bukele shared a video of a bitcoin mine operating adjacent to a volcano. Bukele discussed the volcano-powered bitcoin mining on June 9 when he talked about the \u201c95MW of 100% clean, 0 emissions geothermal energy from our volcanos.\u201d El Salvador\u2019s Nayib Bukele Shares a Video of the \u2018First Steps\u2019 Behind…<\/p>\n","protected":false},"author":0,"featured_media":12672,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-12671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12671"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=12671"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12671\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/12672"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=12671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=12671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=12671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}