24 June 2021
Just after becoming the first country over the seas to accept BTC as a “legal tender.” Nayib Bukele, the President of El Salvador, has revealed the country’s plan of mining BTC through volcanoes.
As per the sources, voting for the bill which was spearheaded by President Bukele saw the motion adopted following a congressional vote of 62 in favor out of 84 votes. After that the bill resembles BTC as a method of payment. Moreover, the inhabitants of El Salvador will also be able to pay taxes using BTC.
Additionally, the President was seen wasting no time in reaching out to the state-owned geothermal electrical company, LaGeo. Nayib Bukele, took to his Twitter handle and voiced, El Salvador plans on utilizing the company “to offer facilities for Bitcoin mining with very cheap, 100% clean, 100% renewable, zero-emissions energy from our volcanoes.”
This news to offer sustainable BTC mining solutions comes after China took stern measures to crack down on BTC mining within the country. To which El Salvador said “this is going to evolve fast!” El Salvador plans to offer sustainable BTC mining solutions. El Salvador might become the first country across the globe to offer a unique and effective method of mining BTC through volcanoes.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.