Since 2021 when El Salvador began validating Bitcoin blocks with volcanic energy, the Central American country has mined 474 BTC worth approximately $29.6 million at current prices., El Salvador mined the cryptocurrencies using a geothermal power plant fueled by the Tecapa volcano in the nation’s east central region.
Interestingly, El Salvador’s Bitcoin Office revealed that several crypto mining entities, including Foundry USA, Ant pool, ViaBTC, F2Pool, and Binance Pool, joined the resources to win a reward for creating a blockchain that verified Bitcoin transactions validated by the geothermal power plant in the last three years.In mid-March, El Salvador’s Bitcoin HODL strategy paid off, with BTC rallying above $70,000.
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