The new research shows that everything we already knew about Bitcoin mining can be wrong and we are about to found out further in the Bitcoin latest news below with the help of the bitcoin blog CoinDCA.
Bitcoin mining uses almost as much electricity as Austria per year according to the data by Digicomist.com but now the new research shows that this might be untrue. The reports from CoinDCA Bitcoin Blog explain that BTC mining is actually quite eco-friendly and the main reason for that is the main source of power which is hydroelectric energy. The mining facilities are actually a good match for these power stations. The bitcoin mining farms that are built downriver from the Three Gorges Dam in China or the ones that use hydroelectric power in Washington are actually a boost to the industry. The 24/7 mining activity is always ready to absorb the excess power as the blog explains:
‘’The variable output means renewable suppliers have pay or a lot of wasted capacity. Nobody wants to buy your extra gigawatts at two in the morning. Nobody, that is, except bitcoin miners. Bitcoin mining fixes this problem for renewables by always being willing to buy cheap power, regardless of the time of day. No other industry has this property.’’
Bitcoin mining also a seasonal activity and there is a clear boost following the wet season in China. The farms that go offline and offline have just the right time to adjust to the power production. The miners are also aware of the need to cool down the rigs and to choose high altitude or even some cooler locations which are naturally rich in renewable energy and renewable water-generation power. Mining is now back at 102 EH/s and a few days after posting a high of above 110 quintillion transactions per second, the level of activity remains unprecedented. According to the experts, the new shipments of the S17 series, the mining process maybe even more efficient per unit of electricity:
“The future looks like clean energy all over the world, much of it renewable, hooked up to local bitcoin mining operations that utilize slack power generation.’’
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