- Bybit announces they are hiring a volcanologist.
- El Salvador is exploring renewable energy to power Bitcoin mining.
- The firm’s job application was announced after the El Salvador news on mining BTC.
Bybit, a crypto-derivatives exchange, announces that they are hiring a volcanologist to study how volcanic energy can be used to mine Bitcoin. The announcement came after El Salvador’s President Bukele tweeted about making Bitcoin mining facility out of the country’s volcanos.
Currently, Bybit is seeking a Volcanologist and R&D in Igneous Processes to join their team. Bybit posted this job position after retweeting President Nayib Bukele’s tweet. However, it is not yet clear if Bybit will be working with El Salvador on the research.
I’ve just instructed the president of @LaGeoSV (our state-owned geothermal electric company), to put up a plan to offer facilities for #Bitcoin mining with very cheap, 100% clean, 100% renewable, 0 emissions energy from our volcanos 🌋
This is going to evolve fast! 🇸🇻 pic.twitter.com/1316DV4YwT
— Nayib Bukele 🇸🇻 (@nayibbukele) June 9, 2021
Previously, El Salvador surprised the world when it made Bitcoin a legal tender. More so, the small Central American country is exploring renewable energy to power Bitcoin mining in the country.
Apart from this, the President added that geothermal electric firm LaGeo will be developing the Bitcoin mining strategy. He also revealed at the Bitcoin 2021 Conference that he would send a bill to the country’s congress to recognize Bitcoin as legal tender.
Consequently, El Salvador’s Legislative Assembly passed a bill just days later. Whereas the law regulates Bitcoin as unrestricted legal tender. This includes having liberating power, unlimited in any transaction, and to any title that public or private natural or legal persons require carrying out.
Moreover, part of Bukele’s plan is to acquire migrants in the US using Bitcoin as a method of sending remittance payments. Thus, is offering permanent residency to anyone who invests 3 BTC in the country.
Without a doubt, several banks, economists, and even the IMF criticized the idea. However, the crypto world has largely praised the move as it might influence other countries to legalize crypto as well.