The President of El Salvador proposed to "rent 170 volcanoes to Bitcoin miners" in an effort to promote the introduction of a geothermal energy bill

ChainCatcher news, Salvadoran President Nayib Bukele has proposed an innovative plan to lease the country's volcanoes to miners for sustainable Bitcoin mining. Bukele stated on social media on November 25 that miners could use the geothermal energy generated by the volcanoes to reduce mining costs. This idea was inspired by a previous post that showcased El Salvador successfully using geothermal energy to mine 474 Bitcoins, worth approximately $46 million.

Bukele pointed out that El Salvador has 170 volcanoes, making it a rich energy reservoir to attract global miners. He wrote, "With 170 volcanoes, launching a 'lease a volcano to mine Bitcoin' program actually makes a lot of sense."

In response, Daniel Alvarez, the Director of the General Directorate of Energy, Hydrocarbons, and Mines of El Salvador, stated that the team will begin drafting a new geothermal energy bill to support the implementation of this plan.