Bitcoin Mining & Geothermal Energy in Developing Nations

How do active volcanoes or geothermal energy sources enrich their citizens? These heat sources would only be able to enrich a country if the following criteria was met; Sufficient political stability, a high national ease of business score, built up national electric grid as well as political will to construct large power-plants and distribute energy to citizens. These criteria require years of forward thinking as well as political stability and often international investment. In some of the Nordic countries we can see that their geothermal sources have been utilised magnificently, providing green base-load power as well as utilising the waste heat to warm up fresh water and distributing it to its citizens, saving energy and making electricity and hot water inexpensive in these nations. How can other developing nations such as Indonesia, Chile, Ecuador and other nations with active volcanoes and geothermal hotspots utilise this power to enrich their citizens?

Unfortunately not all countries with geothermal hotspots and active volcanoes can utilise their geothermal wealth as effectively as this as these nordic countries, Iceland became wealthy through fishing, Norway did it through bold taxation on oil exports, it was only when these countries became wealthy that they could utilise these heat sources to enrich the nation even more. So what is different, why now can some countries use their heat sources to produce wealth for its citizens without having political stability, a good business rating nor political will? Bitcoin. Yes it is that simple, now these heat sources do not need to be synchronised, transported hundreds or thousands of kilometres away and then distributed in a built up electric grid, all that is needed is to construct an electric generator on the source and then send the power via wires one or two kilometres to a nearby facility designed to mine bitcoin. Businesses can be encouraged to setup in these facilities by attracting them with inexpensive power prices, then the electricity is utilised to mine bitcoin, profits are made by the miners and they pay their electric bill to the government or investors of the power facility, jobs are created and taxation is generated, which can be utilised within the nation, enriching the citizens without requiring near as much investment in power grid infrastructure. A good example of this is what has been done in El Salvador over the past few years, their volcanic energy has been utilised to create a massive bitcoin mining industry within the nation, providing wealth for the citizens in the form of jobs and taxation revenue which can be spent on public utilities. Taking this a step further this collected tax revenue could be spend to construct wind or nuclear power stations, entirely funded and powered by the heat sources within the nation and “wirelessly transported” via the power of bitcoin to provide electricity