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.