Bitcoin mining annually produces 195TWh energy approximately. It’s comparable to the entire energy consumption of Thailand as a whole. Though the energy consumption is large-scale, it is not menacing. On the contrary, Bitcoin mining might just be as effective in saving the planet as climate-change education. It is all about envisioning a plan for clean energy innovation. And vital in implementing its energy production in the right direction.
In order to stay in the competition with such massive energy production, mining activities need to curtail energy costs. Since crypto mining isn’t confined to a definitive area, many mining activities are reaching out in the locales to build information facilities. The search for cheaper, preferably inexhaustible and renewable energy sources or locations with an overabundance of energy is rampant. As of now, hydro and wind energy are the most sustainable options at hand. They are not only clean energy sources but also cost-effective for mining cryptocurrencies.
Bitcoin Mining In Data Centers And Its Byproduct
The widespread panorama of Bitcoin mining, now, entails huge data centers with thousands of rigs. Gone are the days when mining from home was feasible. In order to stay attuned to the rigorous crypto competition mining can only take place in data centers. These high-end computing functionalities are time and cost-effective when it comes to electricity consumption. Therefore they churn out a massive amount of clean energy which can be used for the betterment of the planet. Miners are putting their minds to utilizing the excess heat that comes off as a Bitcoin byproduct.
Sweden’s Bitcoin Clean Energy Initiative
Northern Sweden is already one step ahead researching on the matter with the Luleå University of Technology and the Research Institutes of Sweden. As per the project, sustainable energy, in this sector, lies in the synergy between Bitcoin mining and energy-intensive sectors of business. Miners can now look forward to aiding the planet’s faltering climate. With decarbonized Bitcoin and its thermal byproduct, greenhouses can increase the cultivation of crops at a cheaper and faster rate. This would furnish the state’s farming economy with the opportunity to produce more food. It would reduce the need for imports while being energy-conscious and maintaining local framing business sustainability. In turn, the local farms would offset the carbon footprint and recycle the heat waste left by mining.
To mine one Bitcoin, miners feed the machinery about 150,000 kWh. This much energy can easily power 170 households in the US for about a month. The creator of Bitcoin had dismissed the haunting pollution caused due to mining by comparing it to gold mining circa 2010. However, the latest development in Bitcoin adoption has opened up ways to recycle the excess heat generated from mining.
As more of these sustainable mining activities arise, miners are able to rethink their part in saving the planet in return. The renewable heat sources that data centers are, multiple communities now have access to sustainable clean energy resources. Whether it is used in a greenhouse to grow food or aid a failing economy, the Bitcoin clean energy innovation will prevail in rescuing the planet.