Nayib Bukele, President of El Salvador, tweeted Friday to say that Central American country has mined its first Bitcoin using clean energy from volcanoes.
Bukele tweeted that 0.00483976 Bitcoin, which is worth approximately $230, had been mined. Bitcoin rose around 10% to $47,485 at 07:00 AM. ET.
This was a significant occasion, according to many tweets and comments. The process of mining bitcoin using renewable volcano power means that the carbon-intensive part of the process is much less. According to Cambridge’s index, bitcoin mining consumes more electricity per year than the Philippines.
In an announcement on Tweet, Bukele stated that El Salvador had taken steps to get its bitcoin volcano project started. This was made earlier in the week.
In June, the president of stated that he would ask LaGeo SA de CV (the country’s state-owned geothermal electricity company), to create a 100%-clean bitcoin-mining plan by using energy from volcanoes.
El Salvador made bitcoin legal tender in September. After the country bought 400 Bitcoin, the rollout started September 7.