Bitcoin mining could even be subsidizing the development of renewable energy generation, thanks to the ability of mining facilities to move their operations to wherever the cheapest—and likely under-utilised—electricity is available.
According to Bitcoinist news, In November 2018, CoinShares Research published a whitepaper that examined trends, costs, and energy consumption of Bitcoin mining.
According to the authors, the study shows that most Bitcoin mining occurs in global regions containing available sources of renewable energy. Moreover, the report highlights that about 80 percent of mining is powered by renewable energy.
For small-scale miners, a growing array of solutions is becoming available. For example, Cryptosolartech is a project where the primary objective is to develop the largest cryptocurrency mining farm run on renewable energies.
Companies such as Solar Alliance Energy Inc. — a provider of residential, commercial and industrial solar installations — are focusing on the amazing role that renewable energy can play to support the development of the cryptocurrency industry. ——————–***——————–
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Location: Oslo, Norway
Date: Mar 18, 2019 @ 10:37
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