El Salvador mined 474 bitcoin since 2021 using volcanic geothermal power, bringing total BTC to 5,750: report

El Salvador has mined 474 bitcoin since 2021 using geothermal power fueled by the Tecapa volcano. 

The mined coins bring the country's total bitcoin holdings to 5,750, worth about $380 million at current prices, Reuters reports . 

Nayib Bukele , El Salvador's pro-Bitcoin BTC +6.87% president, who won a second term in February 2024, implemented 300 new processors powered by volcanic geothermal energy. However, 1.5 megawatts, or 1.47%, of the government-run power plant's 102 megawatts go to bitcoin mining.

In June 2021, El Salvador became the first country in the world to accept bitcoin as legal tender. Despite a push from its government, however, everyday cryptocurrency usage remained low the following year. 

Bitcoin traded at $65,967 at 3:38 p.m. ET (19:38 UTC) on May 15 after seeing a 7.13% increase within the past 24 hours, according to The Block Prices. The coin amassed $27.1 billion in trading volume within the past day.