El Salvador to develop mining farm Using Volcano Energy

[Agbe]

El Salvador's Government is trying his best to expand bitcoin to a very large extent so recently they given out a latest news again to launched another mighty project in bitcoin Mining field again that they are planning to launched the largest bitcoin Mining in the world which will be using volcano power/energy to supply electricity to the mining plants. This is a good plan because if really the plan project is achieve. Electricity is one of the major issue in the mining of bitcoin field.

https://www.instagram.com/p/CtHFk6BAXCl/?igshid=NTc4MTIwNjQ2YQ== you can get more on the above link to support your comments.

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[dansus021]

I mean this would be great if they realized it.

But first thing first how to get the energy from the volcano Im I missing something here or I am just dumb  Like how? I know Coal powered, solar powered or nuclear powered but this is new for me.

Although if this happens meaning the electricity is cheap right and this is categorized as clean energy right?

[joniboini]

Not sure using Instagram as a source is really a good idea. Some comments also suggest that this is old news. The latest news regarding El Salvador mining is related to this one[1]. Not sure if Bitcoin Magazine is mixing up volcano energy with a company called Volcano Energy or not, but it seems like recycled news.

But first thing first how to get the energy from the volcano Im I missing something here or I am just dumb  Like how? I know Coal powered, solar powered or nuclear powered but this is new for me.

If the OP is referring to the news I linked below, then it is using wind and solar energy. The article claims that it can work together with the geothermal energy mentioned last year, but it is unclear how it will do that.

[1] https://www.coindesk.com/business/2023/06/05/el-salvadors-volcano-energy-secures-1b-in-commitments-for-241-mw-bitcoin-mine/

[philipma1957]

I mean this would be great if they realized it.

But first thing first how to get the energy from the volcano Im I missing something here or I am just dumb  Like how? I know Coal powered, solar powered or nuclear powered but this is new for me.

Although if this happens meaning the electricity is cheap right and this is categorized as clean energy right?

You add water and turn it into steam the steam drives a turbine.

You recycle the steam and let the volcano heat it again.

In a sense its clean energy.

Ie volcanos are dirty but give heat.

This adds no extra dirty and lets the heat be used and not be wasted.

The volcano would give the same fumes and dirt if you left it alone.

So no added dirt and fumes.

Plus you make power.

[NotATether]

You add water and turn it into steam the steam drives a turbine.

You recycle the steam and let the volcano heat it again.

In a sense its clean energy.

Ie volcanos are dirty but give heat.

This adds no extra dirty and lets the heat be used and not be wasted.

The volcano would give the same fumes and dirt if you left it alone.

So no added dirt and fumes.

Plus you make power.

I'm not really a physics person, but how is the volcano supposed to give off heat when its not erupting?

(And conversely, unless infrastructure for the power plant is extreme heat-resistant, it will also be damaged and/or swept away during the eruption. Won't this risk actually jeopardize the plan for volcanic energy, or are they only using dormant volcanoes for this purpose?)

[stompix]

I'm not really a physics person, but how is the volcano supposed to give off heat when its not erupting?

A volcano is always hot, magma is always present below or penetrating the continental crust or mantle, the harnessing of the energy doesn't happen in the cone or from the vent where magma flows but from the surrounding area which is heated by the magma. It's the same basic geothermal powerplant, just add some fancy words to it.
Iceland's geothermal energy is basically the same, the heat comes from the Atlantic ridge between Nort America and Europe, but nobody calls it volcano energy, or tectonic energy, or whatever another name.

That aside, this is another publicity stunt from Bukele, remember that he already dug a 100MW two years ago? What happened to it? Crickets!
https://twitter.com/nayibbukele/status/1402714926800674827

Our engineers just informed me that they dug a new well, that will provide approximately 95MW of 100% clean, 0 emissions geothermal energy from our volcanos 🌋Starting to design a full #Bitcoin mining hub around it.

If the OP is referring to the news I linked below, then it is using wind and solar energy. The article claims that it can work together with the geothermal energy mentioned last year, but it is unclear how it will do that.
[1] https://www.coindesk.com/business/2023/06/05/el-salvadors-volcano-energy-secures-1b-in-commitments-for-241-mw-bitcoin-mine/

Yeah, but Solar isn't getting as many tweets as VOLCANO!!!!
I'll trust this plan of Bukele when that damn FSRU that arrived last year and is pumping tons of LNG in the country and generating 25% of the electricity will set sail from their main port!

[Agbe]

Not sure using Instagram as a source is really a good idea.

That is the source the information which posted was gotten and that was why I use it in the post. I can't post another link that the information was not gotten from. And when a news is published there must be different opinions and views. As for me I have not even seen Volcano in my life. So I don't know whether it gives energy or not.
The link you provided is also good but I didn't not get the information from there.

[dansus021]

You add water and turn it into steam the steam drives a turbine.

You recycle the steam and let the volcano heat it again.

A volcano is always hot, magma is always present below or penetrating the continental crust or mantle, the harnessing of the energy doesn't happen in the cone or from the vent where magma flows but from the surrounding area which is heated by the magma. It's the same basic geothermal powerplant, just add some fancy words to it.
Iceland's geothermal energy is basically the same, the heat comes from the Atlantic ridge between Nort America and Europe, but nobody calls it volcano energy, or tectonic energy, or whatever another name.

So it is basically the same with the GeoThermal plant. Meaning the energy that we get from this will be clean cheap electricity.  , Maybe building the plant and using a volcano little bit risky and expensive at first.

They name it like scary monster  I just imagine how they drill the volcano

[bittraffic]

You add water and turn it into steam the steam drives a turbine.

You recycle the steam and let the volcano heat it again.

A volcano is always hot, magma is always present below or penetrating the continental crust or mantle, the harnessing of the energy doesn't happen in the cone or from the vent where magma flows but from the surrounding area which is heated by the magma. It's the same basic geothermal powerplant, just add some fancy words to it.
Iceland's geothermal energy is basically the same, the heat comes from the Atlantic ridge between Nort America and Europe, but nobody calls it volcano energy, or tectonic energy, or whatever another name.

So it is basically the same with the GeoThermal plant. Meaning the energy that we get from this will be clean cheap electricity.  , Maybe building the plant and using a volcano little bit risky and expensive at first.

They name it like scary monster  I just imagine how they drill the volcano

Sounds very dangerous to me. This sure would need expert engineers to make it happen. And presumably this volcano is active? I can already see the laughters of Bukele haters if all these go south.

On the otherhand, this is also big if they can make this safe and work. If its successful it,wouldn't be surprising to see other countries with volcanoes try also.

[stompix]

They name it like scary monster   I just imagine how they drill the volcano

Clickbait, but that's how you win the audience in crypto land.

Sounds very dangerous to me. This sure would need expert engineers to make it happen. And presumably this volcano is active? I can already see the laughters of Bukele haters if all these go south.

On the otherhand, this is also big if they can make this safe and work. If its successful it,wouldn't be surprising to see other countries with volcanoes try also.

It's not dangerous, it's not something new and definitely not a scientific breakthrough.

Salvador already has geothermal powerplants that tap the heat in the soil generated by the volcano, they already built in 1975 and it was done using US and Japanese technology, there are plenty of countries who already use this, again, Bukele is making a big deal out of nothing.
Philipines, Indonesia, Mexico, New Zeeland, USA, Italy, there is one operating 10 miles from an active volcano in the Hawaii
https://en.wikipedia.org/wiki/Puna_Geothermal_Venture

Nothing dangerous, nothing out of the ordinary.
And what's more important, while it's called volcano energy, it's actually a solar farm, see the link above.

[safar1980]

"Geothermal energy is generated in over 20 countries. The United States is the world’s largest producer, and the largest geothermal development in the world is The Geysers north of San Francisco in California. In Iceland, many of the buildings and even swimming pools are heated with geothermal hot water. Iceland has at least 25 active volcanoes and many hot springs and geysers."
https://www.nationalgeographic.com/environment/article/geothermal-energy

But what will be the cost of bitcoin after halving on such a project?

[joniboini]

That is the source the information which posted was gotten and that was why I use it in the post. I can't post another link that the information was not gotten from. And when a news is published there must be different opinions and views.

That is fair, but I believe you can also double-check the news first. I mean, from the comments you can tell that some already suggest it is old news. I don't think it is difficult to search for similar news if they do exist. They are not talking about views or opinions related to the topic too, just stating that the news is likely old. Anyway, the mixups between volcano energy and Volcano Energy is funny to some extent.

But what will be the cost of bitcoin after halving on such a project?

Do you mean the cost to mine Bitcoin if they have access to such an energy source? I guess we need to wait until the price kicks in. If it is cheap, maybe some miners will use them. At the end of the day, the market will adjust itself (hash rate & difficulty might increase for a while, then some miners no longer make a profit, hash rate & difficulty decrease, etc) as usual. CMMIW.

I doubt this news will pump the Bitcoin price or anything like that if that's what you're referring to.

[safar1980]

But what will be the cost of bitcoin after halving on such a project?

Do you mean the cost to mine Bitcoin if they have access to such an energy source? I guess we need to wait until the price kicks in. If it is cheap, maybe some miners will use them. At the end of the day, the market will adjust itself (hash rate & difficulty might increase for a while, then some miners no longer make a profit, hash rate & difficulty decrease, etc) as usual. CMMIW.

I doubt this news will pump the Bitcoin price or anything like that if that's what you're referring to.

Such a project cannot be implemented very quickly, so I am interested in the cost of mining bitcoin after halving on such electricity.
To generate electricity, it will not be necessary to burn natural resources, but this project will require maintenance and have electricity generation costs.

[Artemis3]

Technically its not the volcano but the magma flow that goes to it. Its done generally around inactive volcanos for obvious reasons.

The magma boils the water underground, so all you need is drill a hole and it spits out steam that is used to turn a turbine, then you capture that vapor let it condense and send it down to the underground again.

Its not "like" geothermal, it literally is geothermal. It just happens that volcanos tend to have magma flows to them.

I think Americans have a place with geysers; Yellowstone park?, that's the same energy just being wasted. Underground water is being boiled until the pressure makes it "erupt" until inside pressure falls, the water returns underground and the process repeat.

[Agbe]

Technically its not the volcano but the magma flow that goes to it. Its done generally around inactive volcanos for obvious reasons.

The magma boils the water underground, so all you need is drill a hole and it spits out steam that is used to turn a turbine, then you capture that vapor let it condense and send it down to the underground again.

Its not "like" geothermal, it literally is geothermal. It just happens that volcanos tend to have magma flows to them.

I think Americans have a place with geysers; Yellowstone park?, that's the same energy just being wasted. Underground water is being boiled until the pressure makes it "erupt" until inside pressure falls, the water returns underground and the process repeat.

wow!!! This is nice. For this those who are not conversant with the volcano energy will know it from here. Really I have not heard Volcano Energy but I have only heard about dustbin energy but I have not seen it. According to scientist, the waste that has been dump in a particular environment can be converted to electricity. Even river current which also known as dam. Now is volcano. All these natural resources are there to produce light but yet the governments will not invest on them but instead fuel. Why?

[BitDane]

Technically its not the volcano but the magma flow that goes to it. Its done generally around inactive volcanos for obvious reasons.

The magma boils the water underground, so all you need is drill a hole and it spits out steam that is used to turn a turbine, then you capture that vapor let it condense and send it down to the underground again.

Its not "like" geothermal, it literally is geothermal. It just happens that volcanos tend to have magma flows to them.

I think Americans have a place with geysers; Yellowstone park?, that's the same energy just being wasted. Underground water is being boiled until the pressure makes it "erupt" until inside pressure falls, the water returns underground and the process repeat.

wow!!! This is nice. For this those who are not conversant with the volcano energy will know it from here. Really I have not heard Volcano Energy but I have only heard about dustbin energy but I have not seen it. According to scientist, the waste that has been dump in a particular environment can be converted to electricity. Even river current which also known as dam. Now is volcano. All these natural resources are there to produce light but yet the governments will not invest on them but instead fuel. Why?

I believe it is called geothermal energy, taking advantage of the heat produced by volcano since geothermal energy is heat generated within  the earth.  It also includes volcanic activities.  It is not a new technology and was around since 1904 when the first geothermal power plant where invented at the Larderello dry steam field in Tuscany, Italy, by Prince Piero Ginori Conti[1]  Also Iceland is known to use volcanic activity for their electricity[2].

Iceland, a nation famous for its volcanic activity, also gets much of its energy from volcanoes. This geothermal power accounts for 25% of electricity generation in the country and 66% of its overall primary energy use

It is a smart move for El Salvador to develop mining farm using Volcano energy because geothermal energy is known a clean and at the same time renewable source of energy.


[1] https://www.energy.gov/energysaver/energy-saver-101-history-timeline-geothermal-energy#1901
[2] https://environment.co/geothermal-energy-from-volcanoes/

[joniboini]

Such a project cannot be implemented very quickly, so I am interested in the cost of mining bitcoin after halving on such electricity.
To generate electricity, it will not be necessary to burn natural resources, but this project will require maintenance and have electricity generation costs.

I see. Unless it becomes mainstream I doubt it will affect the average cost to mine Bitcoin that much. I won't be surprised if they have a promotion or something similar for the first few months or so, and then gradually increase the price as other businesses have done in the past. Not sure it will attract miners to move in since some people already mentioned that this marketing stunt is quite often done, while the reality is not that easy for miners (or even the average joe) to get stable electricity.

[safar1980]

Such a project cannot be implemented very quickly, so I am interested in the cost of mining bitcoin after halving on such electricity.
To generate electricity, it will not be necessary to burn natural resources, but this project will require maintenance and have electricity generation costs.

I see. Unless it becomes mainstream I doubt it will affect the average cost to mine Bitcoin that much. I won't be surprised if they have a promotion or something similar for the first few months or so, and then gradually increase the price as other businesses have done in the past. Not sure it will attract miners to move in since some people already mentioned that this marketing stunt is quite often done, while the reality is not that easy for miners (or even the average joe) to get stable electricity.

Large miners have electricity contracts. I was sure that the cheapest electricity is hydroelectricity, but in the articles they write that the cheapest electricity is from renewable sources.
https://www.un.org/en/climatechange/renewables-cheapest-form-power
Hydroelectric power is stable electricity at any time of the day, unlike solar panels and wind turbines.

[SamReomo]

Technically its not the volcano but the magma flow that goes to it. Its done generally around inactive volcanos for obvious reasons.

The magma boils the water underground, so all you need is drill a hole and it spits out steam that is used to turn a turbine, then you capture that vapor let it condense and send it down to the underground again.

Its not "like" geothermal, it literally is geothermal. It just happens that volcanos tend to have magma flows to them.

I think Americans have a place with geysers; Yellowstone park?, that's the same energy just being wasted. Underground water is being boiled until the pressure makes it "erupt" until inside pressure falls, the water returns underground and the process repeat.

wow!!! This is nice. For this those who are not conversant with the volcano energy will know it from here. Really I have not heard Volcano Energy but I have only heard about dustbin energy but I have not seen it. According to scientist, the waste that has been dump in a particular environment can be converted to electricity. Even river current which also known as dam. Now is volcano. All these natural resources are there to produce light but yet the governments will not invest on them but instead fuel. Why?

The thing that you're referring as "dustbin energy" is actually energy generated with the garbage that's thrown as waste. The energy actually comes from the solid part of that waste when it's burned in waste-to-energy plants. When the wastes are burned a stream is produced in boiler which is then used to power a generator based turbine. You can also call the thing as biomass-generated energy and it powers the generators which in turn supply energy.

The energy generated from Volcanos is often called Geothermal energy and that comes from the heat of the Earth's crust. This type of energy often works when heat from volcanos is captured with the help of running water which in turn converts into steam, that steam is then used to spin the turbines and the electricity is generated.

The Geo-thermal energy is renewable and it could be very helpful source of energy for the miners who have access to it. The type of energy is not for all miners because it's abundant in those areas of the world where volcanos exist. Well, I think El Salvador's Government has taken a very nice step for the Bitcoin miners. However, I believe that the cost of mining won't reduce with such type of energy source because it could cost the government huge sums of money to create such power-plants that could capture the geothermal energy. 

[safar1980]

Technically its not the volcano but the magma flow that goes to it. Its done generally around inactive volcanos for obvious reasons.

The magma boils the water underground, so all you need is drill a hole and it spits out steam that is used to turn a turbine, then you capture that vapor let it condense and send it down to the underground again.

Its not "like" geothermal, it literally is geothermal. It just happens that volcanos tend to have magma flows to them.

I think Americans have a place with geysers; Yellowstone park?, that's the same energy just being wasted. Underground water is being boiled until the pressure makes it "erupt" until inside pressure falls, the water returns underground and the process repeat.

wow!!! This is nice. For this those who are not conversant with the volcano energy will know it from here. Really I have not heard Volcano Energy but I have only heard about dustbin energy but I have not seen it. According to scientist, the waste that has been dump in a particular environment can be converted to electricity. Even river current which also known as dam. Now is volcano. All these natural resources are there to produce light but yet the governments will not invest on them but instead fuel. Why?

The thing that you're referring as "dustbin energy" is actually energy generated with the garbage that's thrown as waste. The energy actually comes from the solid part of that waste when it's burned in waste-to-energy plants. When the wastes are burned a stream is produced in boiler which is then used to power a generator based turbine. You can also call the thing as biomass-generated energy and it powers the generators which in turn supply energy.

The energy generated from Volcanos is often called Geothermal energy and that comes from the heat of the Earth's crust. This type of energy often works when heat from volcanos is captured with the help of running water which in turn converts into steam, that steam is then used to spin the turbines and the electricity is generated.

The Geo-thermal energy is renewable and it could be very helpful source of energy for the miners who have access to it. The type of energy is not for all miners because it's abundant in those areas of the world where volcanos exist. Well, I think El Salvador's Government has taken a very nice step for the Bitcoin miners. However, I believe that the cost of mining won't reduce with such type of energy source because it could cost the government huge sums of money to create such power-plants that could capture the geothermal energy.  

For good efficiency Geothermal power plant requires hot water with a temperature above 100 degrees. This requires drilling the earth for several kilometers. The pumps will consume a lot of electricity, so this is not the easiest way to generate electricity and depends on the location. And the temperature of the water on the surface of the earth in such sources is 30-40 degrees Celsius.