Yes, El Salvador stating that it will use renewable sources of energy to mine Bitcoin is a good news. When the world is demonizing Bitcoin mining, thanks to Elon's statement that Bitcoin mining increases electricity consumption, El Salvador has shown quite how these sources of how geothermal energy can be used and excess of this energy can just be used for Bitcoin mining. Quite grateful to El Salvador to show the way.
Further, this would encourage different countries to come up with more avenues to tap into renewable sources of energy and thus increase sustainability.
True, this is a good move by the El Salvador President and will charge a new part for Bitcoin mining but the thing is, why hasn't this been thought about by all of the Bitcoin mining countries? Further, this would encourage different countries to come up with more avenues to tap into renewable sources of energy and thus increase sustainability.
It is the necessity they say is the mother of all invention and has that pushed El Salvador this way because they saw no other way to their economic financial problems. We know there are a lot of different renewable energy sources that could be use for this purpose and I am personally glad that we will start to look at this option now.
