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Salvadoran President Shares Video of Volcano-Powered Bitcoin Mining Facility

On Tuesday, Salvadoran president Nayib Bukele shared a video of a bitcoin mine operating adjacent to a volcano. Bukele discussed the volcano-powered bitcoin mining on June 9 when he talked about the “95MW of 100% clean, 0 emissions geothermal energy from our volcanos.”

El Salvador’s Nayib Bukele Shares a Video of the ‘First Steps’ Behind the Volcano-Powered Bitcoin Mine Construction

The president of El Salvador shared a video via the social media platform Twitter that said “First steps,” as the film shows ASIC bitcoin mining rigs being installed at a geothermal energy plant. The video shows containers that are emblazoned with the Salvadoran government logos and a large quantity of ASIC mining devices. The video has been viewed around 2 million times on Twitter, and Bukele’s video tweet has over 50K likes and over 12,000 retweets.

First steps…

🌋#Bitcoin🇸🇻 pic.twitter.com/duhHvmEnym

— Nayib Bukele 🇸🇻 (@nayibbukele) September 28, 2021

While many bitcoin proponents said the mining facility was “impressive,” a few Salvadoran citizens complained about the use of energy. “So, there are centers to produce more energy, but to mine bitcoin,” one individual asked the Salvadoran president. “People who have been waiting for electricity for more than 30 years. Not that you would help those most in need? Hypocrite,” the person added.

Salvadoran President Shares Video of Volcano-Powered Bitcoin Mining Facility
The video the Salvadoran president Nayib Bukele shared shows images of shipping containers with the Salvadoran government’s logo.

A lot of people gave the woman flak for asking Bukele that question, but a number of people stuck up for her. “She just wonders, like any normal person,” another individual replied in Nayib Bukele’s tweet thread. “Why is there money to set up power plants for [bitcoin] mining and there is no money to supply the entire population. Before insulting people, make an argument,” the person added. Besides the introduction to volcano-powered bitcoin mining this past June, Bukele also discussed the subject in greater detail on an episode of “What Bitcoin Did.”

‘Very Clean Source of Energy With Almost No Downsides,’ Project Construction to Cost $480 Million

The Salvadoran president told the host Peter McCormack about how “El Salvador has not been the country that’s recognised to be the first in innovation,” but he asked, “Why not this time?”

The video shares images of workers installing ASIC bitcoin mining rigs.

While Bukele stressed during his interview that geothermal energy was “a very, very clean source of energy” and that it has “almost no downsides,” the Salvadoran president did not go over the subject of specific Salvadorans not having access to electricity. “Currently, the electrification index is 83.4%” in El Salvador according to the latest statistics. Major urban areas in El Salvador have around 97% access to electricity, while ruralized regions in the country today show an electrification index estimate of around 72%.

The video shows an aerial view of the volcano-powered bitcoin mining facility.

El Salvador is the largest producer of geothermal energy in Central America and in July, the country suffered from a massive power outage. The Regional Operator Entity (EOR) based in El Salvador told the press that they witnessed a “load loss of 2,300 megawatts.”

The power outage in El Salvador and other regions in Central America cost around $18.2 million from failures. “The demand we had at that time was around 8,300 megawatts in the Central American region. We have lost 30% of the electrical power load,” the EOR director, René González, told reporters.

When discussing the volcano bitcoin mining experiment with Peter McCormack, Bukele emphasized that the project will be costly. “It’s going to cost $480 million, so that’s going to be a legacy for the country because we are building infrastructure paid by bitcoin,” Bukele said in his interview. Alongside this, demand for electricity in El Salvador is expected to grow annually at a rate of 5% year-over-year.

What do you think about the ‘first steps’ volcano-powered bitcoin mine video shared by Salvadoran president Nayib Bukele? Let us know what you think about this subject in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Video shared by Nayib Bukele, Twitter,

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XCN defies Bitcoin and Ethereum slump with 97% spike

Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure. The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier. Tariffs and other market conditions weigh on investor sentiment. Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins…


  • Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure.
  • The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier.
  • Tariffs and other market conditions weigh on investor sentiment.

Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins with an impressive 97% over the past 24 hours.

In a price rally that put it on top of the daily gainers’ list, XCN shot up to an intraday high of $0.017.

The performance bucks the downward pressure that has seen Bitcoin (BTC) and Ethereum (ETH) pare gains from a day ago with dips below $80k and $1.5k, respectively.

XCN price performance

The XCN token’s standout performance sees it outpace Flare, Kaspas, and Walrus, among other notable gainers.

According to data from CoinMarketCap, XCN is currently trading at $0.017, with its volume up 1,230%.

XCN chart by CoinMarketCap

The token’s market, though tiny at $531 million, is up 97% and puts Onyxcoin in the top 100 by market cap.

XCN has flipped Floki and CORE, which currently rank 100th and 99th by market cap, respectively.

Onyxcoin’s massive spike comes despite a broader risk market downturn in the past 24 hours.

BTC, ETH, and other coins’ dip has seen the global cryptocurrency market cap drop by 3.9% to $2.52 trillion.

Volume is down 20% to about $127 billion as crypto mirrors losses on Wall Street.

Overall market outlook

Crypto and the stock market rose sharply on Wednesday after US President Donald Trump changed his tariffs stance.

His announcement of a 90-day pause sent risk assets skyrocketing, with Bitcoin’s price breaking to above $82k.

S&P 500 and the Dow Jones Industrial jumped, rising by historic single-day gains.

However, the S&P 500 and Dow opened lower on Thursday and looked to close lower with 3.2% and 2.4 %, respectively.

Dow was down more than 900 points.

On Thursday, Trump announced an additional 25% tariff on China, bringing this to 145%.

After excluding it from the 90-day pause, analysts say the trade war will continue to hurt optimism.

This looks to be the case as stocks sold off despite the latest inflation report that showed CPI dropped to 2.4% against an expected 2.6%.

While this sees many turn to the Federal Reserve for expectations of interest rate cuts, analysts are pointing to “sticky” prices and tariff impact for likely pressure on equities and crypto. Analysts point to a potential bull trap.

Peter Schiff said via a post on X:

“I’ve never seen such a mass selloff of US assets. The US dollar, bonds, and stocks are all getting killed. I can’t remember when the dollar lost 3.5% against the Swiss franc in one day. America’s ride on the global gravy train is about to come to a screeching halt. Buckle up.”


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