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El Salvador continues to take the spotlight after President Nayib Bukele shared the design of the Bitcoin mining facility that is to be set up in the country. This is no ordinary mining facility, in fact, it will be powered by Volcano, as was announced by the President soon after BTC was adopted as a legal tender in the country.
The jaw-droppingly futuristic concept of the mining facility looks promising and is meant for big achievements in the future.
Despite the fluctuations in BTC’s price, El Salvador seems determined to fulfill what it set out to do, which is to mine Bitcoin and conserve energy at the same time. This is likely to give a boost to BTC’s value and highlight its utility and prominence for other countries as well.
This can also attract the attention of more crypto enthusiasts who have been planning to invest in the digital asset. If you have also been thinking to invest in BTC then make sure you use secure exchanges such as SwissBorg or Kraken and purchase it at minimum risks. You can also consider becoming a crypto trader, in which case PrimeXBT Covesting is one of the top exchanges for you.
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What Will the BTC Mining Facility Look Like?
Curious to know what the volcano-powered Bitcoin mining facility will look like? President Nayib Bukele took to Twitter and shared a concept design of the BTC mining facility.
The sneak peek looks unconventional and amazing, which has led many to believe that El Salvador’s plans are as solid as they can be.
President Bukele has been very optimistic about adopting and mining BTC in the country, from the start. He instructed the construction of the facility as soon as the idea was suggested to him through a live audio conversation on Twitter.
Since then, a state-owned electricity company started working on the facility, which will mine BTC using geothermal energy from volcanoes.
El Salvador is the smallest country in Central America and has 23 active volcanoes. There is enough heat energy within the sub-surface of the Earth to create steam, which in turn generates electricity. This makes El Salvador, one of the biggest geothermal energy producers in the world.
A quarter of the total electricity production in the country is in fact geothermal power.
This gives El Salvador a fair chance to develop a mining system for Bitcoin that uses natural energy and keeps the environment safe and protected.
Considering the clean energy BTC mining option, El Salvador is also anticipated to become home to several Chinese Bitcoin miners as the BTC mining operations in China have been ceased.
Could This Take BTC to The Next Level?
Bitcoin is anticipated to rise to new levels, provided the mining facility is built as imagined and functions as properly as is expected.
If El Salvador succeeds in mining BTC with clean and green energy, it will open doors for new opportunities for BTC investors, traders and the flagship crypto asset itself.
Some organizations and companies such as Tesla, have ceased the use of Bitcoin due to concerns regarding the impact of BTC mining on the environment. However, a successfully running facility that mines Bitcoin with natural energy is expected to be a game-changer.
Once the volcano-powered Bitcoin mining facility is up and running, it can boost the importance and use of Bitcoin, more than many may expect.
However, if the world of crypto has piqued your interest and you want to invest in BTC then you should opt for the best Bitcoin exchanges.
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On the other hand, if you are a crypto trader, choosing a secure exchange is equally important as it can help you trade with minimum concerns and risks. Therefore, one of the best crypto exchanges for crypto traders is ByBit.
