El Salvador Uses Bitcoin Proceeds to Fund Geothermal Development

El Salvador reportedly plans to use funds raised as part of its Bitcoin Volcano bond offering for geothermal growth in the country. El Salvador continues to push for bitcoin mining, launching it earlier this 12 months as a tender for authorization. The country’s goal is to acquire Bitcoin and maintain it for five years. They will then be offered, and half of the revenue will be distributed to Volcano token holders. Half of the revenue will be used to fund infrastructure growth, with plans to use it to fund geothermal growth. El Salvador plans to develop the half that will be used for energy to strengthen the region's power grid and mining and other operations. They are taking advantage of this initial debt increase to create a Bitcoin treasury and partly to strengthen the grid.