Over the past three years, using its abundant volcanic geothermal energy, El Salvador has mined 473.5 Bitcoin (BTC), valued at $29 million.

This was achieved using 300 mining processors powered by the Tecapa volcano, contributing 1.5 megawatts (MW) out of the 102 MW generated by the government-owned power plant. This initiative places El Salvador at the forefront of renewable energy mining, countering criticisms of Bitcoin's energy-intensive methods reliant on fossil fuels.

The country now holds a total of 5,750 BTC, worth approximately $354 million. President Nayib Bukele's decision to integrate Bitcoin into the government's finances, along with its legal tender status and the introduction of the Chivo Wallet and BTC ATMs, underscores his commitment to Bitcoin adoption, despite opposition from international entities like the International Monetary Fund, World Bank, and U.S. lawmakers.

Despite skepticism during the crypto winter of 2022-2023, Bukele remained steadfast in his support of Bitcoin, announcing daily purchases of one BTC and affirming the nation's stance of holding onto its BTC reserves.

El Salvador aims to position itself as a tropical tax haven, offering incentives like the "freedom visa" program, which grants passport and residency to high-net-worth individuals investing $1 million in BTC or USDT.