El Salvador president Nayib Bukele floated the idea of a “rent your volcano to mine Bitcoin (CRYPTO: BTC)” policy in the wake of the country’s successful geothermal-powered mining venture.
What Happened: On Sunday, Bukele took to X to share the success of El Salvador’s Bitcoin mining venture. He suggested that, given the nation’s abundant geothermal power potential, a business policy of renting volcanoes to mine Bitcoin might “make sense.”
Bukele was reacting to another X user’s post on the country’s stockpile of 474 Bitcoins mined with geothermal power, which swelled to $46 million due to the leading cryptocurrency’s ongoing bull run.