Bitcoin is mined using Volcanode mining rigs based on the LaGeo mining platform.
State electrical company LaGeo operates two geothermal power plants located in El Salvador in the Ahuachapan and Berlin regions, and bitcoin mining began there on October 1, 2021.
Geothermal energy from volcanoes is a cheap, environmentally friendly and 100% renewable energy resource. LaGeo uses only a third of its energy potential at the moment, but the mining platform based on geothermal stations is actively developing.
El Salvador is the first country in the world where Bitcoin legally became an official means of payment along with the US dollar. The local population has the opportunity to use Bitcoin to pay for goods and services today, and taxes can also be paid with cryptocurrency.
The Chivo cryptocurrency wallet has also been launched in El Salvador, which allows transactions in cryptocurrency to be carried out almost instantly. Local businesses are actively introducing a new payment method - Bitcoin. For example, a visit to McDonald’s or Starbucks in El Salvador can already be paid for with cryptocurrency.
The launch of the Vestnx Mining business is a new step in the development of our company.
An additional source of income will strengthen Vestnx Global's position on the world stage and broaden the prospects for our clients according to our experts.