Mining crypto off a volcano
El Salvador continues making headlines, now with President Bukele instructing the state-owned geothermal electric company LaGeoSV to put up a plan for Bitcoin mining farms.
Cheap, renewable, and 0% carbon emissions – with its 23 active volcanoes El Salvador can contribute to making Bitcoin greener, its geothermal plants – more lucrative, all while creating jobs. Win-win on all fronts.
This should further precipitate countries like Paraguay, famous for its huge dams and big amounts of unused electricity, to consider measures attracting crypto miners. A Paraguayan congressman Carlos Rejala is planning to do just that, promising to present a bill with favorable regulations for crypto mining and exchanges.
Can crypto be the wave that would propel Latin America to success?
