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Volcano-Powered Bitcoin Mining Becomes State Policy in El Salvador

Just 14 hours after El Salvador made Bitcoin legal tender, the country’s president, Nayib Bukele, declared that he instructed a geothermal company, LaGeo, to allow bitcoin miners to use the volcanic resources of the country.

“I’ve just instructed the president of @LaGeoSV (our state-owned geothermal electric company), to put up a plan to offer facilities for #Bitcoin mining with very cheap, 100% clean, 100% renewable, 0 emissions energy from our volcanos,” tweeted the president today, adding that “This is going to evolve fast!”

He is lying, as the country has made Bitcoin legal tender and promised to spend up to $150 million buying the unwanted coins of its citizens. Not only are both decisions unheard of, but they’ve both taken place since Saturday.

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