Ecologist argues that mining Bitcoin with volcanic energy is more expensive than using oil

Ecologist argues that mining Bitcoin with volcanic energy is more expensive than using oil

Ecologist argues that mining Bitcoin with volcanic energy is more expensive than using oil By Daily EditorBitcoin

Ecologist Ricardo Navarro argued why he is concerned about El Salvador’s Bitcoin mining plans with geothermal energy.

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Along with the acceptance of Bitcoin As legal tender, El Salvador has also been a pioneer country in experimenting with crypto mining using volcanic energy. In fact, his idea is to create Bitcoin City, the first city in the world whose construction and operation will be supported by the issuance of bonds based on the digital currency. The city would be built near the Conchagua volcano, with which the supply to the city and crypto mining activities will be provided.

Many applauded his idea, however, the world of environmentalists has begun to express their fears about these plans.

Ricardo Navarro, director of the Salvadoran Center for Appropriate Technology, expressed to the middle The Telegraph on the concerns of extracting bitcoins with energy from the country’s volcanoes. The environmentalist pointed out that the approach of the government of President Nayib Bukele should be oriented to provide stable electricity to the six million citizens in the country and that the operating costs of geothermal energy replace oil. In this regard he said:

“Geothermal energy still costs more than oil, otherwise we would already be using more. What will end up happening is that we will only be buying more oil. “

Lack of water

Navarro, winner of the Goldman Environmental Award, noted that the use of geothermal energy requires steam as an integral part of its functionality. Steam is obtained from groundwater or water held under rocks and must be readily available for the government to harness the potential of geothermal energy. Navarro told The Telegraph that “We already have problems with the lack of water in El Salvador.”

He is not the only one who notices it. The country’s problems with the use of geothermal energy were amplified by the director of the International Geothermal Association, Marit Brommer. He pointed out the impractical nature of President Bukele’s claims to build a city Bitcoin with the power of volcanoes.

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“El Salvador is known for its geothermal potential. But if you promise something in the next six months, that would not be feasible.Brommer said. “It will probably take at least two or three years, and probably more, before it can generate electricity.”

The volcanoes of El Salvador

Zycrypto explains that El Salvador is home to 23 active volcanoes and at least six are being monitored for seismic activities. The geothermal energy of these volcanoes it represents 25% of the country’s power generation.

On October 1, less than a month after the adoption of Bitcoin as legal tender, President Bukele announced that the country minted its first bitcoin using geothermal energy with zero emissions. This provoked positive reactions from the community. Bitcoin, especially given the grid’s problems with environmentalists over energy consumption levels.

At that time, according to various sources, this new stream of energy should be used to make Bitcoin Go greener with more plans on that front to take advantage of resources wasted through gas flaring, which are highly damaging to the environment. Since the Bitcoin can be extracted anywhere with an Internet connection, the Asics They can be installed using gas that would otherwise burn.

However, now the Salvadoran expert Navarro dismantles this theory.

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Sources: Telegraph, Bitcoin.com, Zycrypto, file

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