Bukele tweeted a summary of the mining rewards up to this point:
“We’re still examining as well as setting up, however, this is officially the very first Bitcoin mining from the volcano.”
The bitcoin is mined utilizing geothermal energy created by regional volcanoes. The country is heavily dependent on geothermal energy as well as is one of the top manufacturers of it worldwide.
Bukele later tweeted a video clip on the 28th of September showing mining equipment being delivered and installed in the El Salvadorean facility. The video also shows ASIC miners installed and connected to power.
— Nayib Bukele 🇸🇻 (@nayibbukele) September 28, 2021
Last month, El Salvador was the first nation to make bitcoin legal tender. In addition, El Salvador has produced the Chivo wallet. This enables citizens to utilize the Bitcoin network to make payments. $30 of bitcoin was handed out to any individual that registered.
Nate got into crypto by investing in stable coins/altcoins using an algorithmic trading strategy. Shortly thereafter, he began writing about blockchain technology and all things crypto. He has become involved in a number of crypto-related projects and continues to be passionate about all things crypto.