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53 search results for: El Salvador


El Salvador Started Mining Bitcoin Using GeoThermal Energy From Volcanoes

The country of El Salvador has been making several headlines in recent months after promoting Bitcoin as a legal tender. However this time, they have made another by mining the cryptocurrency using power straight from the volcanoes. According to the latest report, the country has mined 0.00599179 bitcoin which translates to an amount of $269…


CABEI Lends assistance to EL Salvador for Bitcoin Adoption

On Monday, 14th June, the head of the multinational development bank, CABEI (Central American Bank for Economic Integration), announced that the bank would provide technical assistance for the implementation of Bitcoin as legal tender in El Salvador. In the Monday press conference, The executive President of the Central American Bank For Economic Integration, Dante Mossi,…


Salvadoran Chamber of Commerce Reports 14% of Businesses Using Bitcoin Transactions

In addition to digitizing the economy and reducing dependency on US dollars, Bitcoin adoption would also reduce transfer expenses — which currently account for about a quarter of the Central American country’s gross domestic product (GDP) and stimulate investment.   A national demonstration of cryptocurrency’s transformational power could occur in El Salvador for the first…