El Salvador’s President Nayib Bukele stated in a tweet on Friday that the Central American nation had mined its first bitcoin using clean energy extracted from the volcanoes, according to a report by Markets Insider on Friday.
- President Bukele tweeted that 0.00483976 bitcoin, valued at around $230, had been mined. Bitcoin increased by nearly 10% on the day to stand at $47,485 by 07:00 a.m. ET.
- The tweet marked a momentous event. The use of renewable volcano power to mine bitcoin implies that the process for extracting coins from the data blocks is less carbon-intensive.
- Bitcoin mining in El Salvador is usually more power-consuming in a year than in the Philippines.
- Bukele stated that El Salvador has made great strides toward obtaining its bitcoin volcano project underway. In June, he stated that the nation’s state-owned geothermal electric firm constructed a 100% clean bitcoin-mining plan.
El Salvador made bitcoin a legal tender in September. The implementation started on September 7, after the nation bought 400 bitcoin. BTC USD up +8.26%