Until now, miners of the world’s most popular cryptocurrency, Bitcoin (BTC), have been criticized for their negative environmental impact. This was because they used stacked computers or graphics cards that consumed a huge amount of electricity and also emitted heat while running. However, today’s reality is quite different. It turns out that Bitcoin miners are becoming the most innovative and creative group when it comes to the use of renewable energy and also sustainable electricity consumption practices. We write about what exactly this means in today’s article.
Bitcoin – green energy
Since this topic has been “in the news” lately, various organizations have decided to conduct research that explores the topic of energy used for Bitcoin digging. Among others, this research was conducted by a well-known British university – Cambridge University. It showed that more than 75% of all BTC miners operating today use renewable energy sources for their daily operations. This is influenced by several factors, including but not limited to innovative companies that operate in this particular sector. One such company is MintGreen, which we tell you about in the next paragraph.
MintGreen – a year ahead of the competition
MintGreen is a Canadian company that is involved in the commercial mining of Bitcoin (BTC). However, what sets it apart from its competitors is that it only uses renewable energy sources to mine BTC. Recently, MintGreen signed an agreement with Lonsdale Energy Corporation to provide the heat generated by BTC mining to residents of North Vancouver, British Columbia. This agreement is expected to take effect in early 2022. MintGreen representatives claim that this energy could heat as many as 100 residential and commercial buildings that are currently inhabited and used by 155,000 people.
Could BTC mining mean an energy revolution?
Everything points to it! Innovative moves, similar to MintGreen’s, aim to stimulate the economy to make better use of electricity. Redirecting excess energy into other sectors can have a positive impact on climate change, which is what is associated with cryptocurrency mining. Especially since we will need more and more of this energy due to electric vehicles. Digging BTC can only contribute to better use of this energy, which otherwise – would not be used anymore.