The Guatemalan Lake Town Mining Bitcoin With Used Cooking Oil
Inspired by El Salvador’s Bitcoin Beach, a town in Guatemala is focused on cleaning its lake by diverting used cooking oil to bitcoin miners.
Patrick Melder, MD, founder of the circular economy coined “Bitcoin Lake,” told Bitcoin Magazine that its “Kaboom” bitcoin mining project is the result of a desire to help clean nearby Lake Atitlán while providing a source of continuous income to the community.
“Within the past five years, a major effort to clean the lake costing upwards of $300 million failed because it was so complex with so many large stakeholders who couldn’t agree on a solution,” he added.
Bitcoin Lake took a different approach by starting small with the repurposing of used cooking oil to power bitcoin mining ASICs.