TechFlow news — On November 25, according to Cryptoslate, El Salvador President Nayib Bukele proposed an innovative plan to lease the country's volcanoes to miners for sustainable Bitcoin mining. On that day, Bukele posted on social media stating that miners could leverage geothermal energy generated by volcanoes to reduce mining costs. This idea was inspired by a previous post showcasing El Salvador’s successful mining of 474 Bitcoins—worth approximately $46 million—using geothermal energy.
Bukele highlighted that with 170 volcanoes, El Salvador possesses a vast energy reservoir capable of attracting miners worldwide. He wrote, "With 170 volcanoes, launching a 'rent-a-volcano-to-mine-Bitcoin' program actually makes a lot of sense."
In response, Daniel Alvarez, Director of El Salvador’s General Directorate of Energy, Hydrocarbons, and Mining, stated that his team will begin drafting a new geothermal energy bill to support the implementation of this initiative.
