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El Salvador has mined 474 bitcoin since 2021 using geothermal power fueled by the Tecapa volcano.
The mined coins bring the country’s total bitcoin holdings to 5,750, worth about $380 million at current prices, Reuters reports.
Nayib Bukele, El Salvador’s pro-Bitcoin president, who won a second term in February 2024, implemented 300 new processors powered by volcanic geothermal energy. However, 1.5 megawatts, or 1.47%, of the government-run power plant’s 102 megawatts go to bitcoin mining.
In June 2021, El Salvador became the first country in the world to accept bitcoin as legal tender. Despite a push from its government, however, everyday cryptocurrency usage remained low the following year.
