Layer1 Technologies has deployed its proprietary mining containers as electricity storage systems to stabilize Texas’ electricity market.
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.
A study surveying reps from top EU mining firms found many believe regulations and protections offset higher electricity costs.19124
As the benchmark oil futures contract in the U.S. fell into negative territory this week, blockchain devs have been focusing on greener, sustainable energy projects.5817
A Bitcoin miner in upstate New York has sold 106 petahash of its computing power to an undisclosed buyer, using a physically-settled “BTC hashpower contract.”4040
The Missoula County Board of Commissioners has extended its green regulations for cryptocurrency miners, enabling them to set up operations in industrial zones only.819
Judge rules against entities who sued a utility district for introducing new electricity pricing targeting crypto miners in 2018.2184
Unibright has partnered with German startup Wasserkraft Mittelrhein to use blockchain technology to facilitate renewable energy trading.3347
Are cryptocurrency mining operations moving from Iran to Central Asia in pursuit of stable cheap energy grids?5123
Australia-based blockchain energy firm Power Ledger has purchased a 250 kW photovoltaic system that will use a blockchain-based data management and settlement system.4706
Abkhazia, an autonomous region in northwest Georgia, is planning to intensify work to identify cryptocurrency mining farms in the region.2306
Iranian authorities are offering a bounty to anyone who exposes unauthorized mining operations in the country.6798
Australian blockchain energy firm Power Ledger and BSES Rajdhani Power Limited have successfully conducted a peer-to-peer solar power trading trial in India.5116
Power Ledger’s new commercial deal in South Australia aims to help users avoid additional hidden electricity costs and extra charges.3945
Global blockchain apps to generate $19 billion in cumulative revenue over the next decade, hitting an annual market size of $7.7 billion in 2028.1886
Australian energy tech firm Power Ledger to run blockchain-enabled energy trading trial in Japan’s Kanto region by December 2019.2961