El Salvador has mined 473 Bitcoin (BTC) since adopting BTC as legal tender in 2021. Combined with strategic purchases, the country’s Bitcoin portfolio now totals $356 million, solidifying its position as a pioneer in national cryptocurrency adoption.
El Salvador’s Bitcoin Mining Achievements
- Volcanic Energy-Powered Mining: Utilizing geothermal energy from volcanoes, El Salvador allocates 1.5 MW of its 102 MW state-owned power capacity to Bitcoin mining.
- Collaboration with Major Mining Pools: Partners like Foundry USA, Antpool, and Binance Pool validate transactions from the state-run mining initiative.
Transparency Through the "Bitcoin Office"
The government launched the Bitcoin Office platform, offering real-time tracking of national BTC reserves.
Strategic Bitcoin Accumulation
President Nayib Bukele announced a daily Bitcoin purchase program (1 BTC/day) starting March 16, 2024. Current holdings:
- Total BTC: 5,750.76
- Portfolio Value: $356 million
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FAQs
Q: How does El Salvador mine Bitcoin sustainably?
A: By harnessing volcanic geothermal energy, minimizing environmental impact.
Q: What’s the purpose of the daily Bitcoin purchases?
A: To systematically grow national reserves and stabilize long-term value.
Q: Where can I track El Salvador’s Bitcoin holdings?
A: The official Bitcoin Office provides transparent updates.
Note: Cryptocurrency investments carry high risk. Prices may fluctuate significantly, potentially resulting in loss of capital. Assess risks carefully.
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