[6] According to the United States Census Bureau, the town has a total area of 0.82 square miles (2.12 km2), all of it land.[8] This region experiences warm (but not hot) and dry summers, with no average monthly temperatures above 71.6 °F (22.0 °C).[9] The town, in a farming district, was named after the Spanish word for prosperity (literally smooth sea), apparently because of the good springs found nearby.The chief products of the region were cattle, horses, grain, hay, fruits, and vegetables.[11] Bonanza is an agricultural community with large areas of alfalfa, cattle, and dairy farm use.The Lost River runs near downtown where the Bonanza Big Springs are located.Low water levels have caused groundwater contamination through the springs and added to the regional controversies over water use, endangered suckers (fish) and struggling salmon species, and farming.