El Salvador’s unfolding experiment as a first-adopter of the cryptocurrency bitcoin could be increasingly powered by new streams of renewable energy, the chief of the country’s hydroelectric commission told reporters on Friday.
Energy-intensive cryptocurrency “mining” is done by computers, and has come under criticism from environmentalists as a big source of demand for mostly fossil fuel derived electricity.
Last month, El Salvador became the first country to adopt bitcoin as legal tender alongside the U.S. dollar, which for years had served as the country’s sole official currency.
Daniel Alvarez, president of the state-run Lempa River Hydroelectric Executive Commission (CEL), said El Salvador has the potential to generate electricity through hydroelectric, solar, wind and tidal power projects.
