As per a recent report from the official government body of El Salvador, the nation currently holds 5,750 Bitcoins in its reserves. Over the past three years, El Salvador has mined close to 474 Bitcoins, largely thanks to its geothermal powerhouse, which harnesses the energy of volcanoes as its fuel source. This approach is hailed as an environmentally friendly alternative for accumulating Bitcoins, with the Tecapa volcano operating independently of any central bank.

Under the current administration, which strongly supports Bitcoin, El Salvador has set up 300 processors for Bitcoin mining at the Tecapa volcano. This government-owned powerhouse generates 1.5 MW specifically for cryptocurrency mining. While cryptocurrency mining typically demands substantial energy resources for computing and data centers, El Salvador's approach stands in stark contrast to the scrutiny faced by crypto miners in other parts of the world due to their high electricity consumption.

El Salvador gained international attention in 2021 by becoming the first country to adopt Bitcoin as legal tender. However, the administration's Bitcoin-centric stance has faced criticism for its association with the volatile cryptocurrency.

According to El Salvadoran government sources, several crypto mining companies, including Foundry USA, ViaBTC, Ant Pool, F2Pool, and Binance Pool, have shown interest in the country's mining project.

With this recent addition, the El Salvadoran government now holds a total of 5750 Bitcoins, valued at approximately $354 million. Despite criticism from organizations like the IMF, El Salvador remains committed to increasing its Bitcoin reserves. The country's active involvement in Bitcoin mining, powered by a volcano-fueled geothermal powerhouse, marks another significant milestone in its cryptocurrency journey.

El Salvador's proactive measures in cryptocurrency, including the establishment of a dedicated Bitcoin office, underscore its dedication to staying at the forefront of the digital currency movement. The government's focus on green mining initiatives, spearheaded by the current president, signals a shift in perspectives toward cryptocurrency, affirming Bitcoin's enduring presence in the global financial landscape.

In Bitcoin mining, participants use specialized devices and software to solve cryptographic puzzles, a process that consumes considerable energy. Successful miners are rewarded with valuable incentives for confirming transactions within the Bitcoin network, highlighting the lucrative nature of the endeavor.