A startup is vowing to tackle “obscene” levels of energy consumption in crypto mining by enabling users to donate computing power to issues they care about.
Electricity News
Electricity is the physical flow of electrons. This flow is an energy carrier and is used to deliver energy for electrically-powered devices and establishments. Electricity is a major problem for the cryptocurrency industry. Blockchain electricity consumption values vary due to the algorithm used for establishing consensus. Proof-of-work cryptocurrencies demand a lot of power to operate. As a major PoW cryptocurrency, Bitcoin electricity usage is estimated around the value equal to that of Ireland. Bitcoin mining electricity is the most consuming part of the cost. Blockchain electricity consumption is also an environmental problem, as the growing amount of power demand may lead to climate change. Fixing the problem of large electricity requirements is a field of work for many tech companies. The most used technology for reducing energy demand is a proof-of-stake consensus algorithm that changes the way mining is performed.
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The government of Abkhazia has cut off power to 15 crypto mining farms due to concerns over electricity consumption.
- News
by Helen Partz
Iranians who are turning to Bitcoin mining due to economic difficulties caused by U.S. sanctions still manage to profit due to low electricity prices.
- News
by Helen Partz
South Korea’s government will spend $3.5 million to set up a blockchain-enabled virtual power plant in the city of Busan.
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Canada-based blockchain and crypto company DMG Blockchain Solutions has energized most of its 85 megawatt crypto mining facility in British Columbia.
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by Helen Partz
The city of Ephrata, Washington, has temporarily halted new crypto mining developments for the next 12 months.
- News
by Ana Berman
Diar states crypto mining has seen record revenues in 2018, but the prices for electricity will soon make it profitable only for “bigger players.”
- Analysis
Bitcoin’s rising energy consumption doesn’t rise quite so fast in the summer.
- News
A clean energy expert has hit back against the common perception that high energy consumption is an “Achilles Heel” for Bitcoin.
- News
by Helen Partz
DMG Blockchain has begun installing an 85 megawatt substation for a flagship crypto mining facility
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William Shatner of Star Trek and those Priceline commercials is venturing into crypto, promoting a new U.S. solar-powered crypto mining facility.
- News
by Helen Partz
Bitcoin has ‘died’ for the 300th time, having faced its “most recent death” after a Forbes article on mining energy consumption risks.
- News
‘Chinese Google’ Baidu has revealed its latest blockchain product targeting cryptocurrency energy consumption.
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Employees of the National Police in a Ukrainian town allegedly stole four months worth of electricity to mine crypto at work, local news outlet reports.
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A new company hopes its system will ensure energy resources are used to their full potential and protect consumers from rising bills.
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