El Salvador mines bitcoin with energy from a volcano


Less than a month after becoming the first nation in the world to allow bitcoin as a legal currency, along with the US dollar, El Salvador announced the activation of the "volcanode". This bitcoin mining project set up by the Salvadoran government uses the power of a volcano to fuel its operations, CNBC said on October 1.

Salvadoran President Nayib Bukele tweeted on Friday that El Salvador had mined its first bitcoin thanks to "volcanode", " a project that enables facilities for mining bitcoins with very cheap, 100% clean, 100% renewable energy and without emissions from our volcanoes ”. It is simply a matter of channeling geothermal energy to power mining stations, a process that Iceland has used since the very beginnings of bitcoin.

The project has drawn positive international press attention to the Bukele administration, but critics believe it serves to distract from much more pressing problems in El Salvador. Nayib Bukele took several authoritarian steps to consolidate his political power, which earned him the nickname “Dictator of El Salvador”. The latter has also proclaimed himself " the coolest dictator in the world " in his Twitter bio.

Bukele's goal seems to ultimately be to rewrite the 1992 constitution, signed in the aftermath of the civil war, in order to radically reshape the country's politics. This month, days before Salvadorans celebrated 200 years of independence, newly elected judges to the constitutional chamber ruled that he would have the right to run for consecutive terms.

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