A Chinese–Iranian Bitcoin mining facility is set to resume operations after being forced to shut down earlier in the year.
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.
Victoria Bitter has partnered with blockchain energy trading platform Power Ledger to allow customers to earn beer with surplus solar energy.8989
The U.S. should address the environmental problems of Bitcoin mining by providing its clean energy to set up mining hubs, Mayor Francis Suarez said.10566
Asset managers are warning industry giants like Tesla and PayPal that investing in energy-intensive assets like Bitcoin could diminish their popularity among investors.10825
Energy Web plans to use blockchain technology to help ensure an efficient future for Volkswagen’s electric vehicles.16901
Kentucky needs to attract more crypto mining businesses by offering tax breaks, local lawmakers believe.11873
Some Portuguese residents will reportedly be able to pay for electricity in Bitcoin starting from February.11669
An unknown client in Russia has stacked 20,000 Bitcoin miners at one of BitRiver’s locations in Siberia.12143
Bitcoin energy consumption has been at its highest historical levels since late 2020, according to Digiconomist’s Bitcoin Energy Consumption Index.10505
Do the benefits brought by Bitcoin and the improvement in our standard of living justify this additional use of energy?13667
Bitcoiners have been using the excess heat produced by their mining rigs to stay warm this season.9703
Beginning in April, the electronics giant and university R&D team will evaluate and tweak the new trading system's performance before commercialization.7856
A bi-directional charging scenario allows vehicle owners to sell excess power back to office buildings at a profit.5018
The German state-funded energy project uses DLT to enable transparent market transactions.6099
Despite unclear crypto regulations in the country, Russia may become the leader in sustainable crypto mining.18185