Montenegro Explores Bitcoin Mining Backed by Hydroelectric Power
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Bitcoin industry leaders met with Montenegro's Prime Minister to discuss potential for Bitcoin mining backed by the country's renewable hydroelectric resources.
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They discussed the idea of issuing "Bitcoin hydro bonds" to fund Bitcoin mining, fueled by Montenegro's abundant rivers and hydroelectric potential.
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Only 20% of Montenegro's estimated 5.6 - 6.1 TWh annual hydroelectric potential is currently utilized.
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Attendees polled saw Montenegro as most likely to be the first country to issue Bitcoin hydro bonds.
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This builds on the model of El Salvador's Bitcoin "volcano bonds", which received regulatory approval in December 2022 to launch in early 2024.