A town in Guatemala cleans up its local lake using Bitcoin miners

A town in Guatemala cleans up its local lake using Bitcoin miners

Guatemala’s circular Bitcoin economy known as “Bitcoin Lake” is leveraging Bitcoin ASICs to clean up nearby Lake Atitlán while generating income for the community.

As Bitcoin Lake founder Patrick Melder explained, the “Kaboom” mining project is reusing the cooking oil used to help mine Bitcoin, rather than polluting the local environment.

Mining helps the environment?

As Melder told Bitcoin Magazine, the project is a follow-up to previous attempts to clean up the lake that were ultimately costly and unsuccessful.

“Within the past five years, major efforts to clean up the lake at a cost of more than $300 million have failed because it was too complex with so many major stakeholders that they could not agree on a solution,” he added.

By contrast, Bitcoin Lake has taken a bottom-up approach to environmental sustainability. It involves reusing the cooking oil used to mine bitcoin, which would otherwise have been dumped on the street or in the landfill that stands above Lake Atitlan.

“Either way, it will find its way into the watershed and into the lake,” Milder said. By contrast. While the mining process produces carbon dioxide, it reduces the pollution of the lake.

Share Bitcoin Lake profile video of the project is underway earlier this month. Under one tent, the founder kept multiple containers of used cooking oil, a generator, ASICs, and a laptop computer to keep track of the hashes being created. The alternator and ASIC are old recycled models, but they have found a “second life” thanks to the “semi-free energy” provided by seed oils.

The founder hopes to promote the initiative in neighboring communities where they realize they can clean up the environment in a meaningful and profitable way.

In the United States, concerns about the negative environmental impact of bitcoin mining remain common among regulators. However, multiple Reports Identified ways that can help heal the environment, such as by ignition Excess natural gas.

Bitcoin adoption spread

Milder’s broader “Bitcoin Lake” project – of which Kaboom is a part – has three goals: cleaning up the lake, educating the community about Bitcoin, and creating a circular Bitcoin economy. This includes deploying the adoption of Bitcoin as a store of value, medium of exchange, and unit of account.

“A truly virtuous #Bitcoin circular economy is using every form of wasted energy to mine BTC and secure the grid. In the process – distributing income back to society,” chirp Bitcoin Lake on September 12th.

The project is inspired by the Bitcoin Beach in El Salvador, where there have been many Bitcoin Friendly Initiatives have taken root. However, unlike the Salvadoran example, Bitcoin Lake did not have large donations or donations to start its operations. However, mining helps introduce Bitcoin into the economy.

In terms of education, the project already contains Bitcoin-related materials in the local education center. Since January, kids in the region have been learning basic concepts like “what is inflation” and even “what is money” – ideas some say are circulating on Wall Street Struggling to understand.

There are also educational meetings for adults, companies, and leaders of Indigenous communities. Overall, the initiative aims to inspire natural adoption through education, rather than the compulsion that surprises companies.

In El Salvador, many object To the Bitcoin Act when implemented last year, which included a requirement to force businesses to accept Bitcoin. President Bukele clearer Later that details apply only to large companies in practice.

“Since we started in January of this year, we have incorporated more than 60 companies in and around Panajachel, and in Guatemala as a whole, we have about 200 companies that we have incorporated that accept bitcoin,” explained Melder.

Special Offer (Sponsored)

Binance Free $100 (Exclusive): Use this link to sign up and get $100 free and 10% off on Binance Futures the first month (Interests).

PrimeXBT Special Offer: Use this link to register and enter the code POTATO50 to receive up to $7,000 on your deposit.

#town #Guatemala #cleans #local #lake #Bitcoin #miners

Leave a Comment

Your email address will not be published. Required fields are marked *