The Bitcoin mining center that El Salvador is about to build can bring the country more than 20,000 Bitcoins a year.
Bitfury founder George Kikvadze recently calculated that a Bitcoin mining project using geothermal energy from a volcano that El Salvador is about to deploy, could bring this country hundreds of millions of dollars a year.
Accordingly, with 95 MW of electricity produced from volcanic energy, this mine can bring in revenue of 1,800 BTC per month, more than 20,000 Bitcoins a year, equivalent to 750 million USD at current exchange rates.
“Without a doubt, this will be the most profitable project in the history of El Salvador in particular and Central America in general,” said George Kikvadze.
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)! https://t.co/LZ8vdBElLv
— George Kikvadze (@BitfuryGeorge) July 5, 2021
El Salvador recently gained international fame as the first country to accept Bitcoin as legal currency, allowing citizens to use Bitcoin to pay for goods and services within the country.
Not reused there, President Nayib Bukele also revealed a plan to mine green, sustainable Bitcoin with geothermal energy from active volcanoes, in order to generate new revenue streams for the nation.
In addition, the government of El Salvador recently implemented a series of measures to promote the use of Bitcoin such as creating a Bitcoin wallet “Chivo”, giving away 30 USD in Bitcoin to all adult citizens, installing 200 Bitcoin ATMs throughout the country…
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