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El Salvadorās President, Nayib Bukele announced on Twitter that the country has begun the building of its formerly promised, volcanic geothermal Bitcoin mining facility. Earlier this year, in June, President Bukele revealed that the government had instructed the countryās geothermal electrical company, LaGeo, to put together a plan for establishing Bitcoin mining facilities that will facilitate cheap and clean energy, via El Salvadorās volcanoes.
First stepsā¦
#Bitcoinpic.twitter.com/duhHvmEnym
ā Nayib Bukele (@nayibbukele) September 28, 2021
āOn the outskirts of the plantsā¦we want to promote industrial parks where you can set up your factory and you will receive cheap, clean, renewable [energy].ā, according to a Forbes report.
However, the construction of these geothermal plants was never directed towards enabling El Salvadorās Bitcoin legal tender through promoting Bitcoin Mining. Yet, Bukele had suggested that Bitcoin miners might find these parks ideal for their operations given the proximity to cheap, clean, electricity.
Salvadorans against the governmentās channeling of the countryās resources
El Salvadorās anti-crypto protests have not been unknown to its government. With the latest volcanic geothermal Bitcoin mining facility announcement, the government is facing backlash yet again. People are raising their concerns and questions against the Salvadoran authoritiesā decision of utilizing the technology of geothermal energy to facilitate Bitcoin mining instead of using it to generate electricity to improve living conditions in the country.
President Bukele is confident in his Bitcoin expenditure, but the citizens think otherwise. Recently, El Salvadorās Court of Accounts disclosed a complaint that it had received from the regional human rights and transparency organization, Cristosal, regarding Bitcoin trustās expenditure process in the country. Following the complaint, the government is currently under investigation and can potentially be charged with administrative and asset sanctions.
Additionally, the Court of Accounts also holds the power to present notices to the Attorney Generalās Office to further initiate criminal proceedings if any irregularities are found.
āHaving admitted the complaint, it will be proceeded to carry out the legal analysis report and, in a timely manner, forward such report to the General Audit Coordination,ā the Court of Accounts said in an official document according to Reuters.
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The post El Salvador: Building of the most awaited volcanic geothermal Bitcoin mining facility begins appeared first on Coingape.
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