El Salvador’s President, Nayib Bukele, announced on Twitter that LaGeo, a state-owned geothermal power company, has been instructed to prepare a plan to mine Bitcoin with volcanic energy.
There are about 20 active volcanoes in the country. Chaparrastique volcano has had over 25 eruptions in the last 500 years.
El Salvador’s geothermal energy is completely clean and renewable.
El Salvador broke new ground by accepting Bitcoin (BTC) earlier in the day. Salvador now offers permanent residency to anyone who spends 3 BTC on any product or service within the country.
El Salvador will hold 150 million worth of Bitcoin in the trust fund.