Topic: El Salvador to develop mining farm Using Volcano Energy (Read 408 times)

Yes they can achieve it if they are serious about it. A country can pull all their resources to achieve what they want if the project is very much important to the Nation. El Salvador has invested a lot of more in bitcoin so they need interrupted power supply the volcano project is very nice one to go with. As you said, it is a good move and plan by the state government. There is a reason for them to choose Volcano instead of solar energy. Solar system would have been preferable but they know what they need in their country.

Wonder what 'How dare you!' will think of this! 

In all seriousness, a bold move and I wish them well.

The technology for extracting electricity from a volcano is the same everywhere, but first hot water must be delivered to a heat exchanger. There are a lot of active volcanoes in America, but I'm not sure that they use these opportunities to the maximum.
"List of geothermal power stations in the United States" has very few temporary buildings and powerful geothermal power stations.

Let's take for instance the battery torchlight. The energy present in the cell is in a chemical state and when the switch of the torchlight is turned on, there's a change of state of energy from chemical to electrical. The volcanic mine simply works this way, the thermal or heat energy present in the volcano heats up water underground, which in turn creates powerful steam that help to spin the turbines and generate electricity. El Salvador volcanic mining of Bitcoin is a much more cheaper and cleaner alternative to the electric mining which is reported to cause greenhouse gas emission.

Read about the energy supply and heating of Sakhalin in Russia. The energy of volcanoes and warm sources has long been used in this territory, as in other countries. But they do not have the capacity of hydroelectric power plants.
But a volcano is a more dangerous way to extract electricity.

In my country there is no volcano so I don't even know how volcano look like. I have only seen it either in movies or pictures. You can see those who are familiar with volcano given the analysis how it will generate electricity. I have only use solar generated electricity not even water (Dam) or waste electricity. But I am from the most blessed area Nigeria, we live in rivers with high currents but nothing come from it. Light issue is the highest biggest challenge we have in the country. All because the leaders are greedy. Look at El Salvador Government is making all possible ways to create good light system to serve his citizens. He shows to be a good leader.

Getting electricity from the volcano, that's a little strange. All I know is that it is from the heat of the sun or solar panels and the other is from water to generate electricity.

Now, from the volcano, I've only heard that in a few decades to be honest. How can El Salvador do this? This is quite a big challenge, but if they succeed, it will have a great impact for sure in the world of cryptocurrency. Let's see what happens about this news.

For good efficiency Geothermal power plant requires hot water with a temperature above 100 degrees. This requires drilling the earth for several kilometers. The pumps will consume a lot of electricity, so this is not the easiest way to generate electricity and depends on the location. And the temperature of the water on the surface of the earth in such sources is 30-40 degrees Celsius.

The thing that you're referring as "dustbin energy" is actually energy generated with the garbage that's thrown as waste. The energy actually comes from the solid part of that waste when it's burned in waste-to-energy plants. When the wastes are burned a stream is produced in boiler which is then used to power a generator based turbine. You can also call the thing as biomass-generated energy and it powers the generators which in turn supply energy.

The energy generated from Volcanos is often called Geothermal energy and that comes from the heat of the Earth's crust. This type of energy often works when heat from volcanos is captured with the help of running water which in turn converts into steam, that steam is then used to spin the turbines and the electricity is generated.

The Geo-thermal energy is renewable and it could be very helpful source of energy for the miners who have access to it. The type of energy is not for all miners because it's abundant in those areas of the world where volcanos exist. Well, I think El Salvador's Government has taken a very nice step for the Bitcoin miners. However, I believe that the cost of mining won't reduce with such type of energy source because it could cost the government huge sums of money to create such power-plants that could capture the geothermal energy. 

Large miners have electricity contracts. I was sure that the cheapest electricity is hydroelectricity, but in the articles they write that the cheapest electricity is from renewable sources.
https://www.un.org/en/climatechange/renewables-cheapest-form-power
Hydroelectric power is stable electricity at any time of the day, unlike solar panels and wind turbines.

I see. Unless it becomes mainstream I doubt it will affect the average cost to mine Bitcoin that much. I won't be surprised if they have a promotion or something similar for the first few months or so, and then gradually increase the price as other businesses have done in the past. Not sure it will attract miners to move in since some people already mentioned that this marketing stunt is quite often done, while the reality is not that easy for miners (or even the average joe) to get stable electricity.

I believe it is called geothermal energy, taking advantage of the heat produced by volcano since geothermal energy is heat generated within  the earth.  It also includes volcanic activities.  It is not a new technology and was around since 1904 when the first geothermal power plant where invented at the Larderello dry steam field in Tuscany, Italy, by Prince Piero Ginori Conti[1]  Also Iceland is known to use volcanic activity for their electricity[2].


It is a smart move for El Salvador to develop mining farm using Volcano energy because geothermal energy is known a clean and at the same time renewable source of energy.

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[1] https://www.energy.gov/energysaver/energy-saver-101-history-timeline-geothermal-energy#1901
[2] https://environment.co/geothermal-energy-from-volcanoes/

wow!!! This is nice. For this those who are not conversant with the volcano energy will know it from here. Really I have not heard Volcano Energy but I have only heard about dustbin energy but I have not seen it. According to scientist, the waste that has been dump in a particular environment can be converted to electricity. Even river current which also known as dam. Now is volcano. All these natural resources are there to produce light but yet the governments will not invest on them but instead fuel. Why?

Technically its not the volcano but the magma flow that goes to it. Its done generally around inactive volcanos for obvious reasons.

The magma boils the water underground, so all you need is drill a hole and it spits out steam that is used to turn a turbine, then you capture that vapor let it condense and send it down to the underground again.

Its not "like" geothermal, it literally is geothermal. It just happens that volcanos tend to have magma flows to them.

I think Americans have a place with geysers; Yellowstone park?, that's the same energy just being wasted. Underground water is being boiled until the pressure makes it "erupt" until inside pressure falls, the water returns underground and the process repeat.

Such a project cannot be implemented very quickly, so I am interested in the cost of mining bitcoin after halving on such electricity.
To generate electricity, it will not be necessary to burn natural resources, but this project will require maintenance and have electricity generation costs.

That is fair, but I believe you can also double-check the news first. I mean, from the comments you can tell that some already suggest it is old news. I don't think it is difficult to search for similar news if they do exist. They are not talking about views or opinions related to the topic too, just stating that the news is likely old. Anyway, the mixups between volcano energy and Volcano Energy is funny to some extent.

Do you mean the cost to mine Bitcoin if they have access to such an energy source? I guess we need to wait until the price kicks in. If it is cheap, maybe some miners will use them. At the end of the day, the market will adjust itself (hash rate & difficulty might increase for a while, then some miners no longer make a profit, hash rate & difficulty decrease, etc) as usual. CMMIW.

I doubt this news will pump the Bitcoin price or anything like that if that's what you're referring to.

"Geothermal energy is generated in over 20 countries. The United States is the world’s largest producer, and the largest geothermal development in the world is The Geysers north of San Francisco in California. In Iceland, many of the buildings and even swimming pools are heated with geothermal hot water. Iceland has at least 25 active volcanoes and many hot springs and geysers."
https://www.nationalgeographic.com/environment/article/geothermal-energy

But what will be the cost of bitcoin after halving on such a project?

Clickbait, but that's how you win the audience in crypto land.


It's not dangerous, it's not something new and definitely not a scientific breakthrough.

Salvador already has geothermal powerplants that tap the heat in the soil generated by the volcano, they already built in 1975 and it was done using US and Japanese technology, there are plenty of countries who already use this, again, Bukele is making a big deal out of nothing.
Philipines, Indonesia, Mexico, New Zeeland, USA, Italy, there is one operating 10 miles from an active volcano in the Hawaii
https://en.wikipedia.org/wiki/Puna_Geothermal_Venture

Nothing dangerous, nothing out of the ordinary.
And what's more important, while it's called volcano energy, it's actually a solar farm, see the link above.

Sounds very dangerous to me. This sure would need expert engineers to make it happen. And presumably this volcano is active? I can already see the laughters of Bukele haters if all these go south.

On the otherhand, this is also big if they can make this safe and work. If its successful it,wouldn't be surprising to see other countries with volcanoes try also.

So it is basically the same with the GeoThermal plant. Meaning the energy that we get from this will be clean cheap electricity.  , Maybe building the plant and using a volcano little bit risky and expensive at first.

They name it like scary monster  I just imagine how they drill the volcano