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Latin America, Caribbean Could Use Thousands Volcanoes To Mine Bitcoin

Source: Adobe/Veniamin

Plenty of nations are contemplating utilizing volcanoes to generate electrical energy, probably offering cheaper and greener power to native Bitcoin (BTC) mining operations whereas China is cracking down on this business. In Latin America and the Caribbean alone, some 3,000 volcanoes might be used for this function.

Yesterday, El Salvador’s President Nayib Bukele unveiled plans by his nation to make use of geothermal power from volcanoes to mine BTC, saying {that a} state-owned company might present mining services with inexpensive and inexperienced power.

The country’s embrace of bitcoin as authorized tender and its president’s project to make use of volcanoes to spice up the nation’s crypto mining operations are primarily based on current developments in different elements of the world.

In Iceland, magma-fuelled energy vegetation have been offering the nation with sufficient power to energy BTC mining services whose power use had exceeded that of Icelandic households as early as 2018, as reported by The Guardian on the time.

In Central and South America, quite a few nations might comply with Iceland’s instance owing to the area’s distinctive geographic qualities, in keeping with native business observers.

“We have more than 3,000 volcanoes all over Latin America and the Caribbean,” Christiaan Gischler Blanco, an power specialist on the Inter-American Development Bank (IDB), told US radio program The World final month. “So you can imagine that there is a lot of energy there, and we could definitely harness much more.”

This interactive map of lively volcanoes internationally confirms numerous Latin American and Caribbean nations host untapped power resources that might be used to mine crypto. These embrace Mexico, Costa Rica, Guatemala, Honduras, Nicaragua, Colombia, Ecuador, Peru, and Chile, amongst others.

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Geothermal power exists in some 90 nations internationally, however solely 24 of them produce electrical energy from geothermal sources, according to 2016 figures from the United Nations Economic Commission for Europe (UNECE).

In 2020, the US hosted the most important focus of geothermal manufacturing, adopted by Indonesia, the Philippines, Turkey, New Zealand, Mexico, Italy, and Iceland, as indicated by knowledge from specialist publication NS Energy.

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ThinkGeoEnergy Top 10 Geothermal Countries – year-end 2020. Source:

The latest crackdown on coal-powered Chinese mining services and worries about bitcoin’s carbon footprint might present a powerful incentive for volcano power’s allocation to crypto mining, paired with an elevated drive to carbon-neutral bitcoin investing by funds resembling One River Digital Asset Management. The agency said it has created an choice for its institutional buyers to spend money on digital methods whereas offsetting the carbon emissions of crypto mining.

However, per the National Geographic, geothermal power would not come with out its personal environmental issues, primarily the discharge of hydrogen sulfide fuel and the disposal of some geothermal fluids, which can comprise low ranges of poisonous supplies.


Learn extra:
– Moving to Green Bitcoin May be Moving To a Two-Tier Bitcoin
– Green Investments Help Bitcoin Miners Amid Possible Regulatory Crackdown

– Proof-Of-Bitcoin Needed As Critics & Competitors Unite To Play Climate Card
– A Closer Look on the Environmental Impact of Bitcoin Mining

– Rainy Season Will Test Just How Watertight China’s Bitcoin Mining Ban Is
– Rainy Season Will Test Just How Watertight China’s Bitcoin Mining Ban Is

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