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Exploring the Use of Geothermal Energy for Bitcoin Mining: Opportunities and Challenges in El Salvador and Beyond


As the cryptocurrency industry continues to grow, the energy consumption of Bitcoin mining has become a concern for many. Bitcoin mining, the process by which new bitcoins are created, requires high computational power, which in turn requires a large amount of energy. This has led to an increased focus on sustainable energy sources for Bitcoin mining. Geothermal energy, a renewable and low-carbon energy source, is one potential solution to this problem.

Advantages of Using Geothermal Energy for Bitcoin Mining

Geothermal energy has several advantages that make it an attractive option for Bitcoin mining. Firstly, geothermal energy is a reliable source of power as it is generated from the Earth’s heat, which is constant and abundant. Secondly, geothermal energy is relatively low-cost compared to other forms of renewable energy. This can help reduce the overall energy costs of Bitcoin mining operations. Lastly, geothermal energy has a low environmental impact, making it a sustainable option for Bitcoin mining.

One example of a company that is successfully using geothermal energy for Bitcoin mining is Genesis Mining, one of the largest cloud mining companies in the world. They have a geothermal-powered mining farm in Iceland, which allows them to use renewable and low-cost energy to mine bitcoins. This has helped them to reduce their overall energy costs and increase their profits. Another example is the case of El Salvador, where the government is actively promoting the use of geothermal energy for Bitcoin mining through incentives and regulations.

Limitations of Using Geothermal Energy for Bitcoin Mining

While geothermal energy has many advantages, there are also limitations to using it for Bitcoin mining. One limitation is that geothermal resources are not widely available, and are mostly concentrated in certain areas such as Iceland and New Zealand. This can make it difficult for companies to access geothermal energy, especially if they are located in areas without geothermal resources. Another limitation is the high cost of setting up geothermal power plants. This can be a significant barrier for companies that want to switch to geothermal energy for Bitcoin mining.

Current State of Research and Development

Despite these limitations, the use of geothermal energy for Bitcoin mining is an area of active research and development. Companies such as Genesis Mining are actively researching ways to improve the efficiency and scalability of geothermal energy for Bitcoin mining. Additionally, research and development of geothermal energy for Bitcoin mining can help increase the availability of geothermal resources, making it more accessible for companies around the world.


In conclusion, geothermal energy is a promising option for Bitcoin mining. It offers several advantages such as reliability, low cost, and low environmental impact. However, there are also limitations to using geothermal energy such as limited availability and high costs. With ongoing research and development, it is likely that geothermal energy for Bitcoin mining will become more widely available and cost-effective in the future. Countries like El Salvador are showing how it is possible to use geothermal energy to power Bitcoin mining operations while reducing environmental impact. By promoting the use of renewable energy sources and providing incentives for companies, governments can play a key role in encouraging the sustainable development of the cryptocurrency industry.

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Ethereum Used for Paid Energy

An American resident used the Ethereum blockchain to sell energy to his neighbors.
The two men did the transaction through the LO3, a startup that aims at changing the energy industry. 
Lawrence Orsini, founder at LO3, explained that his startup wants to show how people can use the blockchain daily to facilitate their peer-to-peer exchange.
During an intereview with Coindesk, Orsini commented:
“All the projects that we’re working on are squarely focused on the emerging distributed economy, peer to peer concepts. They’re all squarely focused on distributing and decentralizing assets into communities, into people’s hands, the new economy of the future.”
Thanks to LO3 and ConsenSys, the American resident Eric Frumin had the chance to sell renewable energy directly to Bob Sauchelli, the former program manager at EnergyStar
The energy created by Frumin’s solar panel is tracked on the blockchain. 
Sauchelli commented:
“With this arrangement, I’m going to pay him the whole premium, it won’t cost me anymore. I’m going to pay him what I’d pay the power company, but he’s going to get the whole premium, not just the wholesale rate”.

Bitcoin for Electricity

It’s not the first time we hear about electricity sold for cryptocurrencies and tracked through the blockchain.
In fact, during the MIT Enterprise Forum of Cambridge it was presented a new startup called Usizo, a crowdfunding company who is trying to improve energy payments between users and schools in the African country.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
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Electricity through Bitcoin

On February 2016, MIT Enterprise Forum of Cambridge organized an event about clean energy distribution and how the blockchain can help this so important sector. 
This event was sponsored by the Massachusetts Clean Energy Center, an organization who wants to diffuse clean energy, of course. 
One of the most interesting project was the one presented by Usizo, a crowdfunding company who is trying to improve energy payments between users and schools in the African country. 
During the event Usizo presented its demo that has allowed to turn the light on at the Emaweni Primary School in Soweto.
CEO of the blockchain startup Bankymoon, Lorien Gamaroff, explained how electricity in South Africa works: rather than paying for electricity after it is received, users have to pay for it in advance; and it could be very expensive for those who live in a peripheral area. Also, this system relies on third parties who act between final customers and power companies, so prices get higher.
“A prepaid payment system makes the energy a lot more expensive because those vendors need infrastructure, there’s traveling cost, and it’s also very expensive to make those payments. If you’re in a remote area and your lights go out, there’s no way to make a payment, no easy or electronic way to do it.”
But this situation can be fixed thanks to digital currencies:
“You can now have a smart meter, a bitcoin blockchain-enabled meter, and foreign donors can send money directly to the meter without having to send it to an organization that will take or re-distribute the funds.”

How Usizo works

Usizo works thanks to a smart meter that accept digital currencies and through a crowdfunding platform where people can donate their bitcoin.
Donor can see the electricity needed by a school and can know how much he will contribute based on the BTC he donates.

What’s next?

During a recent interview with Grid Singularity CEO Ewald Hesse, Usizo won’t be only a test. 
According to him, in fact, the startup will partner with some non-governmental organizations to keep the lights on and help the education in Africa. 
Grid Singularity is a startup who use blockchain technology to develop an energy data exchange platform to facilitate energy data analysis, energy trade validation, trade of green certificates, investment decisions and smart grid management.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio