Nayib Bukele to Increase Geothermal Power in El Salvador for Bitcoin City

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Key facts:

Nayib Bukele reported that they have dug new wells to increase geothermal production.

It was confirmed that one of the wells has the capacity to supply 95 MW for a couple of million years.

Nayib Bukele, the president of El Salvador, unveiled more details on supplying geothermal power for Bitcoin City on Sunday, January 9.

“We have dug new wells and we plan to increase our geothermal production,” said Nayib Bukele. It was precisely reported that there will be 4 wells that are on the way to contribute to the supply of energy of the world’s first city that will base its economy on Bitcoin.

The president revealed: “One of the wells, which is the most advanced in the consolidation process, has the capacity to supply 95 megawatts (MW) of clean, cheap and renewable energy, from a source that will last at least a couple of million years. years”.

Thus he referred to geothermal energy, which he classified as “one of the main natural resources of El Salvador.” As he has mentioned on previous occasions, the president stressed that geothermal energy is “a renewable resource for energy generation with greater efficiency than other alternatives.” It is currently used in countries such as the United States, Italy and Mexico.

Nayib Bukele defends himself again against Steve Hanke on the Conchagua volcano

Faced with criticism made by economist Steve Hanke two days earlier about the Conchagua volcano, disqualifying its use for being inactive, Nayib Bukele defended the project again, giving more data.

From the presidency of El Salvador, the president said: «And what about the inactive volcano Conchagua? We have a 90% chance of finding a well capable of delivering at least 42 megawatts. ” ANDso is “enough to provide energy to the entire Bitcoin City,” he clarified.. He also indicated that “production contributes 1,000 gigawatts to the national supply at least.”

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Regarding the surpluses that are obtained, he explained that they will be used for bitcoin mining. And he estimated that, if demand increases more than expected due to the growth of the city, energy can be taken from other wells that are in preparation.

As reported by CriptoNoticias on a trip to one of El Salvador’s power plants, production is in charge of LaGeo, a public company in El Salvador that currently has two plants. One is located in Ahuachapán and the other in Usulután, from which they plan take geothermal energy from the heat of the earth to supply Bitcoin City.

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