El Salvador has announced plans to build a « Bitcoin City », with cryptocurrency mining infrastructures such as a geothermal power plant.
El Salvador has announced plans to build a “Bitcoin City”, hedging its economic future on cryptocurrency. The city will be built at the base of a volcano between La Unión and Conchagua, and will have a geothermal power plant to support crypto mining. Bitcoin City will apparently be in the shape of a large coin, and to make it more attractive to investors, President Nayib Bukele said that the city will not have income, property, capital gains, or payroll taxes — just value-added taxes (VAT).
