El Salvador Mines Bitcoins Worth $29 Million, Thanks to a Volcano | Firstpost America

The Latin American nation of El Salvador has mined 474 bitcoins since 2021 that are valued at roughly $29 million. The nation used a volcano to fill its Bitcoin reserves. It installed 300 processors at a state-owned power plant near the Tecapa volcano to harness geothermal energy for Bitcoin mining. Now, El Salvador's Bitcoin Office reports its coffers hold 5,750 bitcoins which is estimated to be worth over $350 million. In 2021, El Salvador became the first country to accept Bitcoin as legal tender under President Nayib Bukele's first term. However, reports suggest that 88 percent of the citizens do not prefer using Bitcoin for transactions.

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Latin America | El Salvador | Mining | Bitcoins | Volcano | Firstpost America | Eric Ham | War | Geopolitics | Global Economy | Firstpost | World News | Latest News | Global News | International News | Trending News

#elsalvador #bitcoin #volcano #mining #firstpostamerica #ericham #war #geopolitics #economy #firstpost #worldnews #latestnews #globalnews #internationalnews #trendingnews

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