As mining becomes a popular way to assist the environment, the usage of Bitcoin in Guatemala is on the rise.
A circular Bitcoin economy in Guatemala called “Bitcoin Lake” is using Bitcoin ASICs to clean Lake Atitlán and generate cash for the local population.
Patrick Melder, the founder of Bitcoin Lake, claimed that the “Kaboom” mining initiative recycles leftover cooking oil to mine Bitcoin rather than polluting the local environment.
According to Melder’s statement to Bitcoin Magazine, the effort is a continuation of expensive and ultimately futile attempts to clean the lake in the past.
“Over the previous five years, a huge attempt to clean the lake that cost more than $300 million failed because it was so difficult and included so many significant parties who could not agree on a solution,” he continued.
In contrast, Bitcoin Lake pursued ecological sustainability from the ground up. It entails reusing wasted cooking oil to mine Bitcoin, which would otherwise be discarded on the street or at a landfill overlooking Lake Atitlán. Melder said, “In any case, it would end up in the watershed and the lake.”
Earlier this month, Bitcoin Lake published a video showing the concept in operation. Under a single tent, the founder stored many canisters of old cooking oil, a generator, ASICs, and a laptop that monitored the generation of hashes. The generator and ASICs are both repurposed, recycled devices that have been given a “second life” due to the “almost free energy” supplied by seed oils.
As surrounding towns learn they can effectively and financially clean the environment, the creator aims to expand the initiative’s popularity.
In the United States, officials continue to be concerned about Bitcoin Mining’s harmful environmental effects. However, Multiple papers have detailed methods in which it may assist in environmental restoration, such as by flaring surplus natural gas.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.