El Salvador Mines 474 Bitcoins Using Volcano-Powered Plant, Portfolio Worth $354M
El Salvador has mined almost 474 Bitcoins, worth around $29 million, using the energy of the Tecapa volcano. This eco-friendly method of Bitcoin mining is different from traditional sources of energy that use fossil fuels. President Nayib Bukele has spearheaded this initiative and El Salvador now holds a total of 5,750 BTC, valued at roughly $354 million. The government has allocated 1.5 megawatts from the state-owned geothermal power plant specifically for powering its Bitcoin mining machines. However, critics argue that the country still depends on electricity from external sources, some of which come from non-renewable sources.
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