{"id":14040,"date":"2024-05-19T02:25:06","date_gmt":"2024-05-19T06:25:06","guid":{"rendered":"https:\/\/sikaoer.com\/this-is-how-much-bitcoin-btc-el-salvador-has-mined-using-volcanic-energy-report\/"},"modified":"2024-05-19T02:25:06","modified_gmt":"2024-05-19T06:25:06","slug":"this-is-how-much-bitcoin-btc-el-salvador-has-mined-using-volcanic-energy-report","status":"publish","type":"post","link":"https:\/\/sikaoer.com\/this-is-how-much-bitcoin-btc-el-salvador-has-mined-using-volcanic-energy-report\/","title":{"rendered":"This is How Much Bitcoin (BTC) El Salvador Has Mined Using Volcanic Energy: Report"},"content":{"rendered":"


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Since 2021 when El Salvador began validating Bitcoin blocks with volcanic energy, the Central American country has mined 474 BTC worth approximately $29.6 million at current prices.<\/p>\n

According to a Reuters report, El Salvador mined the cryptocurrencies using a geothermal power plant fueled by the Tecapa volcano in the nation\u2019s east central region.<\/p>\n

El Salvador Mines 474 BTC With Volcano<\/h2>\n

The energy generated from the Tecapa volcano is relatively small, but it powers 300 mining processors installed by El Salvador\u2019s Bitcoin-friendly President Nayib Bukele. The nation dedicated 1.5 megawatts (MW) out of the 102 MW produced by the power plant to crypto mining.<\/p>\n

El Salvador\u2019s volcano-powered mining plant presents a sustainable alternative to the electricity-consuming operations of other Bitcoin mining entities, which have been criticized for their negative impacts on power grids and carbon emissions.<\/p>\n

Adding the 474 BTC mined since 2021 to the number of bitcoins El Salvador has purchased, the country now holds 5,750 BTC worth roughly $354 million at current prices.<\/p>\n

Interestingly, El Salvador\u2019s Bitcoin Office revealed that several crypto mining entities, including Foundry USA, Ant pool, ViaBTC, F2Pool, and Binance Pool, joined the resources to win a reward for creating a blockchain that verified Bitcoin transactions validated by the geothermal power plant in the last three years.<\/p>\n

El Salvador\u2019s Bitcoin Bet Pays Off<\/h2>\n

El Salvador has come a long way after becoming the first country to adopt Bitcoin as legal tender in 2021. From using renewable energy sources for mining to launching Bitcoin bonds and offering a citizenship-by-Bitcoin-investment program.<\/p>\n

In mid-March, El Salvador\u2019s Bitcoin HODL strategy paid off, with BTC rallying above $70,000. The country began accumulating the digital asset in 2021 and announced in November of the following year that it would buy one BTC every day. Bitcoin\u2019s value hovered around $16,000 at the time of the announcement; however, the asset was worth roughly $63,000 at the time of writing.<\/p>\n

CryptoPotato reported that the country\u2019s stash saw a 55% return on investment, registering unrealized gains of about $66 million. Notably, the profits did not account for the nation\u2019s total Bitcoin holdings, as there were assets received through additional revenue streams unknown to the public.<\/p>\n

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Since 2021 when El Salvador began validating Bitcoin blocks with volcanic energy, the Central American country has mined 474 BTC worth approximately $29.6 million at current prices. According to a Reuters report, El Salvador mined the cryptocurrencies using a geothermal power plant fueled by the Tecapa volcano in the nation\u2019s east central region. El Salvador […]<\/p>\n","protected":false},"author":1,"featured_media":14041,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-14040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin"],"yoast_head":"\nThis is How Much Bitcoin (BTC) El Salvador Has Mined Using Volcanic Energy: Report - Sikaoer - The Best Crypto News Site.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sikaoer.com\/this-is-how-much-bitcoin-btc-el-salvador-has-mined-using-volcanic-energy-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"This is How Much Bitcoin (BTC) El Salvador Has Mined Using Volcanic Energy: Report\" \/>\n<meta property=\"og:description\" content=\"Since 2021 when El Salvador began validating Bitcoin blocks with volcanic energy, the Central American country has mined 474 BTC worth approximately $29.6 million at current prices. 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