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The new law will allow Bitcoin Mining by taking advantage of Salvadoran natural resources.
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With more than 200 volcanoes, the country will seek to promote its sustainable energy, as is happening today in Kenya.
Nayib Bukele’s government is determined to continue exploring economic opportunities around bitcoin (BTC), including digital mining and, therefore, energy. In that sense, it plans to take advantage of the volcanic origin, given that the country has more than 200 volcanoes in its territory.
In fact, El Salvador already has mined almost 500 bitcoins from 2021 through its mining farm powered by geothermal energy. However, now, Bukele launched the idea of an ambitious program that contemplates the possibility of rent a Salvadoran volcano to mine Bitcoinand instantly there was a response from his government team.
Daniel Alvarez, director of energy, hydrocarbons and mines of the Central American country, said that, immediatewould be activated to work on a new geothermal energy law for El Salvador. However, little is known about the content of the legislation or when its discussion in the nation’s Congress could begin. What is clear is that El Salvador currently has one of the more favorable and friendly regulations with the bitcoin ecosystem.
In any case, it is evident that the Salvadoran government not only seeks to enhance its production of bitcoinbut also hopes to reaffirm its commitment to a sustainable energy model that takes advantage of its vast geothermal resources. The hope is that all of these measures will contribute to economic growth of a country that has been overcoming adversity.
The vision of geothermal energy from Kenya
What is being projected today in the South American country is not an unattainable dream, as it is something that is already developing in Kenyain East Africa. There, Gridless company miners are transforming the way mining is done. Bitcoin miningusing a combination of solar energy and geothermal energy from a nearby plant.
The site is modest and consists of a 500 kilowatt mobile container that resembles a small residential trailer, very similar to the one located in Berlin’s silver in El Salvador.
So, in Kenya, Gridless miners essentially act as large-scale energy buyers, creating a financial incentive to expand energy production and infrastructure. This energy, once wasted, can now be harnessed for feeding not only the mining machines, but also the local communities.
In that sense, Gridless mining operations are more than a business because they are changing the landscape of energy access in Africa. Its mining farms have already supplied electricity to more than 8,000 homes in Kenya, Zambia and Malawi. And additionally, the company is providing electricity to cold storage containers for farmers, battery charging stations for electric motorcycles and public Wi-Fi hotspots.
Therefore in areas like Kenya, where access to reliable electricity may be limited, Gridless efforts are having a direct impact. By harnessing renewable energy resources that would otherwise go unused. The company is helping to electrify rural communities while securing the Bitcoin network. The same thing would be about to happen in El Salvador, to expand its mining operations or offer energy for the consumption of the Bitcoin mining companies that decide to settle in Salvadoran soilto.
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