BTC Volcanic Mining Is Still More Expensive Than Oil: Opinion

Mining BTC with volcanic energy is still more expensive than oil, which has challenged the country’s plans to mine BTC from volcanoes with geothermal energy, according to an ecologist from El Salvador than we read more in today’s bitcoin news.

As an ecologist in El Salvador, Ricardo Navvaro questioned the country’s decision to use geothermal energy to mine BTC from volcanoes, stating that this energy is still more expensive than oil:

“Geothermal energy is still more expensive than oil, otherwise we would have needed more. What will happen in the end is that we will buy more oil. “

Questioning President Bukele’s decision to develop infrastructure near BTC-friendly volcanoes, Navarro said:

“When you talk about building this city next to a volcano, it’s like thinking you’re rich because you live next to a bank.”

He added that volcanic BTC mining is still more expensive because it requires steam and groundwater or other water kept underground in the ground or under rocks while people in the country are struggling with not having enough water. Marit Brommer, Managing Director of the International Geothermal Association, who also questioned the many promises made in the controversy, also expressed skepticism. Chairperson Nayib Bukele:

“El Salvador is known for its geothermal potential. But if he promises something in the next six months, that won’t be possible.

Bukele originally announced its plans to use volcanoes to mine BTC in June, at the time he was running La Geo, a state-owned energy company to provide renewable energy to BTC mining facilities. In October, the process kicked off when Bukele announced on Twitter, and a month later announced further plans to build a volcano-powered BTC city based on the initial development, funded by a BTC-backed bond. Meanwhile, Buekle bought back with public money, without clarifying who controls the country’s private keys.

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