- Salvadoran ecologists do not share optimism about geothermal mining
- Their main argument is that it is better to use such energy for other purposes
- Geothermal energy also requires a lot of water, but it is in short supply
Salvadoran ecologist Ricardo Navvaro does not support the authorities’ decision to mine Bitcoin from volcanic energy. The expert recalled that such energy is more expensive than oil:
“We could completely switch to geothermal energy, but it’s expensive. Now, if we spend that kind of energy on mining, we’ll have to buy more oil. ”
Navarro also criticized President Bukele’s idea to build a city next to a volcano. “Why here? A person does not consider himself rich simply because he lives next to a bank, “the expert said.
The ecologist recalled that geothermal energy is generated by steam, groundwater or groundwater. The problem is that El Salvador already suffers from water shortages. According to her estimates, El Salvador will need at least 2-3 years for the country to start producing electricity from volcanoes. This does not fit with the words of the resident, who promised to launch the project within six months.
Meanwhile, investors have already bought out 22% of government bonds for Bitcoin City. These assets are jokingly called volcano bonds.