Bitcoin mining for hydropower? Except for the miners, no one buys gigawatts at 2 a.m.
According to data collected by digicomist.com, bitcoin mining consumes as much electricity a year as a country in Austria, at 73.12 TW / h. Overuse of energy is regarded as one of the strongest arguments of mining opponents, that is, mining is an activity that causes great damage to the environment. But is it all true?_DJMINER
Cooperation between bitcoin mining and Hydropower Station
But another analysis shows that at present, BTC mining is actually very environmentally friendly. The main reason is that the main power source is hydropower. According to the latest research by coindca bitcoin blog, mining facilities are actually ideal for hydropower stations.
A bitcoin mining farm built downstream of China's Three Gorges Dam, or a bitcoin mine using hydroelectric power in Washington, D.C., is actually a boon for the industry. Mining is a 24x7 activity, always ready to absorb excess power. The blog points out:
"Variable production means that renewable suppliers are paid or have a lot of wasted capacity. No one wants to buy an extra gigawatt at 2 a.m. Nobody but bitcoin miner. At all times, bitcoin is willing to buy cheap electricity to solve this problem for renewable energy. No other industry has this property. "
Bitcoin mining is also a seasonal activity, with a significant increase in the rainy season in China. The mine can go online and offline, and adjust the power consumption in time._DJMINER
Miners are also aware of the need to cool their machines and choose high altitude or cooler places, which are naturally rich in renewable water for power generation.
Mining to maintain peak value
Bitcoin computing power recently returned to above 102 eh / s. This level of activity is unprecedented, and according to experts, miner still use the old S9 series of antminer mining machines for production. With the new shipment of S17 series, the mining efficiency per unit of electric power may even be higher.
Coindca commented:
"The future looks like clean energy around the world, most of it renewable, tied to the local bitcoin mining business that uses idle power generation."
Bitcoin mining still requires more hardware than POS. However, electronic waste is highly recyclable.
It is said that the carbon footprint of a BTC transaction is 741703 visa transactions. However, this only considers direct energy use, not visa teams, offices, buildings and all other activities to sustain the business. On the other hand, bitcoin's network is automatic and does not require a lot of labor._DJMINER
Cooperation between bitcoin mining and Hydropower Station
But another analysis shows that at present, BTC mining is actually very environmentally friendly. The main reason is that the main power source is hydropower. According to the latest research by coindca bitcoin blog, mining facilities are actually ideal for hydropower stations.
A bitcoin mining farm built downstream of China's Three Gorges Dam, or a bitcoin mine using hydroelectric power in Washington, D.C., is actually a boon for the industry. Mining is a 24x7 activity, always ready to absorb excess power. The blog points out:
"Variable production means that renewable suppliers are paid or have a lot of wasted capacity. No one wants to buy an extra gigawatt at 2 a.m. Nobody but bitcoin miner. At all times, bitcoin is willing to buy cheap electricity to solve this problem for renewable energy. No other industry has this property. "
Bitcoin mining is also a seasonal activity, with a significant increase in the rainy season in China. The mine can go online and offline, and adjust the power consumption in time._DJMINER
Miners are also aware of the need to cool their machines and choose high altitude or cooler places, which are naturally rich in renewable water for power generation.
Mining to maintain peak value
Bitcoin computing power recently returned to above 102 eh / s. This level of activity is unprecedented, and according to experts, miner still use the old S9 series of antminer mining machines for production. With the new shipment of S17 series, the mining efficiency per unit of electric power may even be higher.
Coindca commented:
"The future looks like clean energy around the world, most of it renewable, tied to the local bitcoin mining business that uses idle power generation."
Bitcoin mining still requires more hardware than POS. However, electronic waste is highly recyclable.
It is said that the carbon footprint of a BTC transaction is 741703 visa transactions. However, this only considers direct energy use, not visa teams, offices, buildings and all other activities to sustain the business. On the other hand, bitcoin's network is automatic and does not require a lot of labor._DJMINER
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