ANDThe Government of El Salvador announced last week that it obtained a reward of 474 bitcoins, equivalent to 29 million dollars, thanks to the mining of the cryptocurrency in a geothermal power plant belonging to the Central American nation.
Specifically, these bitcoins were mined in the Berlin Geothermal Power Plant, a farm powered by geothermal energy generated by the Tecapa volcano, in the east of the country.
The plant was installed by the government of Nayib Bukele in 2021, the year in which the country adopted bitcoin as legal tenderwith at least 300 ASIC processors, as CriptoNoticias was able to verify.
The Central American country has managed to accumulate more than 5,700 cryptocurrencies over three years, valued at 354 million dollars
Thus, for Pierre Rochard, vice president of the mining company Riot – cited by Brand-, Bitcoin mining will create more economic growth for El Salvador.
This is because “in addition to strengthening the nation’s reserves, it will have a positive impact on the energy sector, since there will be more mining companies that can contribute to the national electrical grid,” said Rochard.
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A government portal to follow part of the bitcoin reserves in the country
“El Salvador already has its own mempool space, where anyone can consult our bitcoin trends,” the aforementioned office published in X.
According to the balance sheet, which begins on March 12, these coins would have a value at the current price of more than 353 million dollars (about 326.3 million euros).
In addition, it would show the incorporation of bitcoin on a daily basis due to the alleged purchases made by the Government with public funds, of which there are no known audits.
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Likewise, the platform would report pending transactions to the government address in the bitcoin chain block.
The portal, although it is a site with government management of El Salvador, points out that “are operated by Mempool Space KK in Japan.”
Last March, Bukele announced that his Government transferred “a large part” of the crypto assets accumulated by the country to a “cold wallet”, as physical devices for storing cryptocurrencies without an internet connection are known.
In September 2021, El Salvador became the first country in the world to adopt bitcoin as legal tender, along with the US dollar.
In September 2021, El Salvador became the first country in the world to adopt bitcoin as legal tender, along with the US dollar. However, 88% of the population did not use this crypto asset in 2023, according to a survey.
The information about these alleged purchases and the more than 200 million invested in the initiative It has been placed under secrecy by government institutions and only what President Bukele publishes on social network X is known.
JUST IN: 🇸🇻 El Salvador President Nayib Bukele says the country transferred its #Bitcoin to a cold wallet and is holding it in a physical vault within national territory. pic.twitter.com/rSwBqR3MKg
— Watcher.Guru (@WatcherGuru) March 15, 2024
*With information from Bloomberg and EFE
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