Scalding water and steam send Bitcoin soaring—but analysts say be

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    [] Scalding water and steam send Bitcoin soaring—but analysts say be wary of El Salvador’s ‘stunt’ | Fortune© 2021 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our u003ca href=”https://fortune.com/terms-of-use/”>Terms of Useu003c/a> and u003ca href=”https://fortune.com/privacy-policy/”>Privacy Policyu003c/a> | u003ca href=”/california-privacy-policy/#notice”>CA Notice at Collection and Privacy Noticeu003c/a> | u003ca href=”https://submit-irm.trustarc.com/services/validation/156c4fed-e974-444a-8352-55333c91c0e6″>Do Not Sell My Personal Informationu003c/a> | u003ca href=”http://preferences-mgr.trustarc.com/?pid=fortunemedia01&aid=fortunemedia01_pub&type=fortunemedia”>Ad Choices u003c/a>u003cbr />nFORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. 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water and steam send Bitcoin soaring—but analysts say be wary of El Salvador’s ‘stunt’ | Fortune”]},{“name”:”script”,”config”:{“src”:”https://stats.wp.com/e-202141.js”,”defer”:true,”async”:true},”children”:[]},{“name”:”meta”,”config”:{“name”:”description”,”content”:””The whole exercise has been good PR for Bitcoin,” says de Vries. “But El Salvador is totally uncompetitive as a place for mining.””},”children”:[]},{“name”:”meta”,”config”:{“name”:”keywords”,”content”:”BTC, bitcoin, bitcoin mining, best places to mine bitcoin, bitcoin mining rigs, how to mine bitcoin, cheapest places to mine bitcoin, BTC today, BTC today, BTC price, BTC price prediction, el salvador, el salvador bitcoin, el salvador bitcoin volcano, el salvador 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Depth”,”slug”:”in-depth”,”term_group”:0,”term_taxonomy_id”:216717,”taxonomy”:”post_tag”,”description”:””,”parent”:0,”count”:235,”filter”:”raw”},{“term_id”:447831206,”name”:”The Ledger”,”slug”:”the-ledger”,”term_group”:0,”term_taxonomy_id”:196385,”taxonomy”:”post_tag”,”description”:””,”parent”:0,”count”:284,”filter”:”raw”}]},”children”:[{“name”:”gutenberg-content”,”config”:{},”children”:[{“name”:”html”,”config”:{“content”:”u003cdiv class=”plea-block with-bottom-border”>nu003cp>u003ca class=”c-link” href=”https://mynewsletters.fortune.com/fortune-daily” target=”_blank” rel=”noopener noreferrer” data-stringify-link=”https://mynewsletters.fortune.com/fortune-daily” data-sk=”tooltip_parent”>Subscribe to Fortune Dailyu003c/a> to get essential business stories straight to your inbox each morning.u003c/p>nu003c/div>n u003cp>At around 5:00 AM EST on October 1, El Salvador’s President Nayib Bukele tweeted that his nation had just mined its first Bitcoin using geothermal energy, power generated from the jets of scalding water and steam boiled by a towering volcano set deep in the jungle. An hour later when the press reports…
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