How to mined Bitcoin by volcanoes?

Cryptocurrencies are experiencing widespread spread in Latin America, thanks to the state of El Salvador, which is looking to mine Bitcoin using volcanoes and of course this step not only allows the state of El Salvador to move from the extreme poverty of its people, but will also mute the mouths of the plaintiff critics who claim that Bitcoin consumes a lot of energy, which negatively affects the environment, so follow the explanation with us to see how the state of El Salvador is mining Bitcoin using volcanoes.

How  to mined Bitcoin by volcanoes?
mining btc by volcanoes

In early October, El Salvador's President Naib Bukele posted a short video on Twitter showing the new geothermal power plant launched in the country and also showing engineers receiving shipping containers filled with Bitcoin mining devices, as well as a group of technicians installing these devices and all electronic circuits and other necessary technical elements, yet it should be noted that the President of El Salvador stated that this Bitcoin mining plant is still in the test phase. But at the same time, he made it clear that it was the first mining of bitcoin using volcanoes. 

- Why El Salvador decided on this step:

In June 2021, el Salvador's parliament passed a law allowing bitcoin to be traded as the country's official currency along with the US dollar. Bukele has also drawn up plans to provide the tribies and mechanisms needed for Salvadorans to access parameters that include Bitcoin, and in case anyone wonders what El Salvador can offer the world thanks to The president of El Salvador hinted last June that he had instructed the president of the state-owned geothermal energy company to develop a plan through which facilities would be provided to anyone who wanted to mining Bitcoin using renewable and clean energy.

- El Salvador criticized for bitcoin mining:

The Salvadoran government's adoption of bitcoin has been accompanied by many criticisms from environmentally conscious consumers because this digital currency has a bad reputation on the part of the environment for the fact that its mining process requires very large energy to conduct complex calculations responsible for the mining process, resulting in the generation of large amounts of carbon dioxide, and to illustrate the picture more, bitcoin mining operations globally consume about 129 terawatts of energy annually, which exceeds the consumption of the United Arab Emirates. For electricity, Google, for example, consumes 12.4 TW of energy per year.

- In the past two years alone, bitcoin mining operations have added 40 million tons of carbon dioxide to the atmosphere, which is equivalent to adding 8.9 million new cars to public roads. all over the country which means that it does not mine this digital currency through fossil fuels harmful to the environment.

- El Salvador's geographical location and impact on mining operations:

In fact, El Salvador is in a privileged geographical location ideal for mining bitcoin using volcanoes, located in an area called the Pacific Fiery Belt, an area where a large number of earthquakes and volcanoes are active, including at least 20 active volcanoes in El Salvador alone, which are responsible for generating about 1/5 of the energy the country needs. 

- How Bitcoin is mined using volcanoes:

To illustrate things, volcanoes themselves are not used to mine bitcoin, instead the molten pulp is used to heat water and generate steam, which will then be exploited by turbines to generate the power needed by Bitcoin mining devices.

- Obstacles to El Salvador's use of Bitcoin:

The strong trend of the State of El Salvador towards dealing with Bitcoin encountered some problems, on September 6, just one day before the adoption of Bitcoin as the official currency in the country, the Central Bank of El Salvador distributed 400 bitcoins worth 21 million U.S. dollars at the time, but the next day after the adoption of this digital currency officially decreased its value terribly to fall from 52 thousand U.S. dollars to 43 thousand U.S. dollars but There is no doubt that the value of this currency has rising again.

- World Bank criticism of El Salvador:  

Despite all this, the World Bank and the International Monetary Fund (IMF) have expressed doubts about el Salvador's move on the grounds that environmental concerns surrounding Bitcoin persist and that cryptocurrencies are still a very volatile general prescription, making them a pose for countries that have decided to bet on them, regardless of the World Bank and the International Monetary Fund, which has been directed at social networks to point out that the high levels of illiteracy in their country make them vulnerable to online fraud and that This country is not ready to make this complex leap at the moment, especially the presence of a few citizens who have access to the latest devices and the internet express.

However, all these obstacles did not prevent the technical company Athens Bitcoin from pledging to invest 1 million U.S. dollars to install 1500 ATMs, which will allow citizens to replace Bitcoin with US dollars and vice versa. 
The way Salvadoran President Naib Bukele put forward these controversial proposals has made him subject to a lot of criticism, which has many citizens calling him a dictator, a description that prompted the president to respond to his critics via Twitter by saying that he is the most wonderful dictator in the world as a cynical response to those criticisms. 

However, all these obstacles did not prevent the technical company Athens Bitcoin from pledging to invest 1 million U.S. dollars to install 1500 ATMs, which will allow citizens to replace Bitcoin with US dollars and vice versa.

The way Salvadoran President Naib Bukele put forward these controversial proposals has made him subject to a lot of criticism, which has many citizens calling him a dictator, a description that prompted the president to respond to his critics via Twitter by saying that he is the most wonderful dictator in the world as a cynical response to those criticisms.