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BMWhile the energy sector is facing threats in other countries of the world, El Salvador, the country famous for the first Bitcoin City in the world, is making proper use of 100% renewable energy for Bitcoin mining. This is where the proper development plan of a country will encourage other countries of the world to implement the plan of using renewable energy and energy on Bitcoin mining. Moreover, the use of renewable energy and fuel for Bitcoin mining is unlikely to have a negative impact on the environment and climate change.
BTC mining through renewable energy sources is one of the most promising applications to foster economic growth in all places of the world. Particularly in rural areas and there were talks about how poor African countries that lack infrastructure for energy grids could attract investment into energy facilities engaging in BTC mining when there is surplus energy produced by those facilities. I think the biggest problem to set up those facilities in rural African areas with lots of sunlight is the security of those facilities. The potential is there, but if facilities get raided by criminals, the investments are at risk.
That's why I think it is amazing to see countries like El Salvador making first steps in that area as well. It really makes sense for as long as we don't have efficient technology to store excess energy, to tie the facilities into BTC mining operations to not let them operate at temporary losses. I can only think of how much could be done in that area around the world.
It is the chicken and the egg problem. If an area lacks energy, industrialization can't be initiated or can't progress. Building energy facilities must be done, but if energy consumption is too low, investments in facilities don't pay off. That's where the mining comes into play and could make investments be worth the risk when in times of low consumption BTC is mined instead. Could be done everywhere where sufficient security for facilities can be granted. El Salvador can do that.