The construction of El Salvador’s Bitcoin City Airport has been initiated in a dedication to its revolutionary Bitcoin City venture. This significant milestone marks the commencement of an ambitious project. This, as a result, will establish a thriving settlement powered by geothermal energy and cryptocurrency mining.

The airport, known as the Pacífico Airport or Bitcoin City Airport, is a crucial component of the comprehensive Bitcoin City construction plan.

Just a month ago, YouTuber Albert Sánchez unveiled aerial footage, showcasing the bustling activity of construction crews at the site. Their efforts are centered around building the Pacífico Airport, also referred to as Bitcoin City Airport. Reports from Criptonoticias and local media sources affirm that the airport construction will proceed in tandem with the development of Bitcoin City.

Bitcoin City and Geothermal Power

El Salvador’s visionary plan involves the establishment of a settlement at the base of a volcano. This is where geothermal power will fuel the city and facilitate Bitcoin mining operations. Unveiled in late 2021, the Bitcoin City project aims to provide residents with a tax-free business environment in a nation where Bitcoin holds legal tender status.

However, despite doubts arising from the decline in BTC prices last year, recent developments indicate that the project is moving forward.

Visual representation of Bitcoin City, a sister project of the El Salvador's Bitcoin City Airport

Confirmation and Progress, Budget and Approvals

Speculation regarding the future of the Bitcoin City project was dispelled when a government-linked organization confirmed that the construction plans were indeed underway. The initiation of the airport project provides further affirmation that President Nayib Bukele‘s BTC aspirations are vibrant and active. Reports indicate that “heavy machinery” is currently engaged in excavating the construction site.

The Autonomous Executive Port Commission (CEPA) has allocated an initial budget of $73 million for the airport project, although the estimated total cost amounts to $350 million. Construction work began following the receipt of necessary environmental permits, signaling a green light from the government.

On-Site Progress,  Concerns and Sister Projects

Various videos shared on social media platforms depict Ministry of Public Works’ excavators operating in Flor de Mangle,. This is located in the department of La Unión, Eastern El Salvador. This aligns with the official plans for the airport. However, local community members have expressed concerns over the environmental impact and displacement of approximately 52 families residing in the area.

Aerial view of a construction site for El Salvador's Bitcoin City Airport

The government identifies the airport and Bitcoin City as “sister projects,” both of which were introduced simultaneously. Renowned Mexican architect Fernando Romero has designed both initiatives. By intertwining their development, the government aims to leverage the long-awaited Bitcoin bonds issuance to finance these projects.

However, while El Salvador advances its BTC adoption plans, some US senators have expressed apprehension. Additionally, they called for a comprehensive risk report to assess the implications of President Bukele’s vision.

Read More:

Zero-Maker Fees Introduced by Binance for TUSD Trading Pairs – A Potential Challenger to Tether?

Win Big in the World of Blockchain Innovation! – ETHGlobal 2023 Q3 & Q4 Hackathon Calendar Revealed