Will El Salvador become a Bitcoin mining giant? According to recent calculations, the country's planned volcano mining farm could mine enormous amounts of BTC.
Millions in revenue every month from BTC
Just recently, El Salvador's President Nayib Bukele released initial designs and data on the planned Volcano Bitcoin Mining Farm (we reported on it here) - and resourceful miners are now calculating how much Bitcoins could be mined by such a facility. Background: President Nayib Bukele plans to use geothermal energy from active volcanoes to power Bitcoin mining facilities. This is clean and safe and a wonderful source of income for his country, the 39-year-old said.
The plan is to generate more than 95 megawatts (MW) of energy - enough for a decent mining farm. Top miner and Bitfury founder George Kikvadze addresses Head of State Bukele directly on Twitter in this regard. He bullishly comments that the power ("95MW") of the BTC mining farm is so enormous that it could mine 1,800 Bitcoins (to buy on eToro or Libertex) per month:
Dear President @nayibbukele 95MW can generate 3 Exahashes which, at current #bitcoin network, is around 1800 #bitcoin in Revenues per month or $750 mln per year. I have zero doubt, this will be the most profitable project in the HISTORY of or Central America (for that matter)!
US mining farm brings swimming lake to boil
After China cracked down on Bitcoin miners in the country, something is happening worldwide in terms of BTC mining. This also applies to the US, where mining activities have been on the rise for quite some time - and sometimes they are taking on strange forms. In the US state of New York, for example, residents of the "Seneca Lake" swimming lake are currently complaining about absurdly high water temperatures. Normally, the area is a relaxed mecca for water sports enthusiasts, anglers and wine drinkers. Currently, however, tempers are running high there. And that in the truest sense of the word.
It has now come to light that a Bitcoin mining farm on the shore is heating up the water! There is indeed a power plant there with around 8,000 specialised, high-performance mining rigs. And they mine the number one cryptocurrency, Bitcoin, around the clock. The company responsible, Greenidge Generation LLC, uses natural gas as the drive - and seawater as the coolant. With unpleasant consequences for every resident who had hoped for summer cooling - because according to the applicable ordinance, the water can reach a temperature of up to 42 degrees. Whirlpool feeling at the bathing lake - only in Krypto.