Bitcoin

The post El Salvador Mines 474 Bitcoins Using Volcano Power, Boosting State Holdings appeared first on Coinpedia Fintech News

El Salvador has mined nearly 474 bitcoins since 2021, leveraging geothermal energy from the Tecapa volcano. This addition brings the government’s total bitcoin holdings to 5,750, valued at approximately $354 million. The “Bitcoin Office” reported these gains, powered by 1.5 MW of the 102 MW produced by a state-owned plant. Additionally, President Nayib Bukele’s administration, …

Bitcoin

The post El Salvador Mines 474 Bitcoins Using Volcano Power, Boosting State Holdings appeared first on Coinpedia Fintech News

El Salvador has mined nearly 474 bitcoins since 2021, leveraging geothermal energy from the Tecapa volcano. This addition brings the government’s total bitcoin holdings to 5,750, valued at approximately $354 million. The “Bitcoin Office” reported these gains, powered by 1.5 MW of the 102 MW produced by a state-owned plant. Additionally, President Nayib Bukele’s administration, re-elected this year, has installed 300 processors for mining. This move made El Salvador the first nation to adopt Bitcoin as legal tender in 2021, drawing criticism from entities like the IMF.