North Vancouver has a population of about 155,000 people. The recovered energy from bitcoin mining will provide heat to over 100 residential and commercial buildings. The plans will come to fruition by 2022. The goal is to start the new environmentally conscious crypto venture before another harsh Canadian winter begins. The lowest recorded temperature for North Vancouver is approximately -20° C.
Bitcoin Mining And Digital Boilers
The Canadian cleantech cryptocurrency mining company, MintGreen is behind this new venture. In partnership with the Lonsdale Energy Corporation, it will supply heat to North Vancouver residents in British Columbia from 2022.
MintGreen informed that its “digital boilers” can recover more than 96% of the electricity spent on Bitcoin (BTC) mining. The use of these boilers will prevent 20,000 metric tons of greenhouse gases per megawatt from invading the atmosphere. The recovered energy will be ample to heat over 100 buildings in the Canadian city teeming with a population of 155,000.
Bitcoin Mining To Tackle Climate Change
Colin Sullivan, MintGreen CEO, claims that the primary goal of this partnership is to tackle climate change issues. The Global Alliance for Buildings and Construction reported huge emissions of CO2 in 2020. The report said building operations and their construction release 38% of carbon dioxide in urban areas.
MintGreen is already working with the Canadian whiskey brand, Shelter Point Distillery, and Vancouver Island Sea Salt facility. It is utilizing its heat waste generated from BTC mining to supply power.
Related Read: Renewable Bitcoin Mining: How Far until Green?
Crypto users struggling in the cold climate are known to make use of Bitcoin mining rigs for heat. This venture will not only be another crypto boon to the world but also cement the need for crypto adoption. It is important to recycle and utilize every means of crypto waste to safeguard the environment.