HomeCryptoBitcoin: in 3 years, El Salvador has mined 474 BTC using volcanic...

Bitcoin: in 3 years, El Salvador has mined 474 BTC using volcanic energy

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After launching this project 3 years ago, El Salvador managed to mine nearly 474 BTC thanks to the geothermal energy of a volcano. We take stock.

El Salvador mined 473.5 BTC in 3 years

This is a project that dates back 3 years now. After formalizing Bitcoin (BTC) as legal tender, El Salvador had revealed its ambitions to mine using volcanic energy. Since then, operations have continued, and Reuters reported this week that the country managed to mine 473.5 BTC using this method.

Thus, these mining operations are enabled thanks to a 102 megawatt geothermal power plant present on the site. Of this power, 1.5 megawatts are reserved for powering 300 mining ASICs.

At the current market price, these nearly 474 BTC represent the equivalent of more than 31 million dollars. Thanks to the new blockchain explorer launched by El Salvador this week, it is now possible to track government assets in real time. Thus, he has, at the time of writing these lines, almost 5,752 BTC.

Last year, a similar project was also set up by Volcano Energy, for which Tether had also provided financial support. In collaboration with Luxor Technology, Volcano Energy has also opened a mining pool, 23% of the revenues of which are supposed to be donated to El Salvador.

👉 To go further — How to buy Bitcoin (BTC) in 2024?

At the same time, one bitcoin is currently trading at $65,800. Thanks to an increase of 6.36% in 24 hoursassets are capitalized at nearly $1,300 billion.

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Source : Reuters

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