While everyone is on the topic of mining using hydroelectric because of the recent WSJ piece, worth mentioning that's what the majority of China based mining ops have been using for years now. Excess hydro is insanely cheap.
#bitcoin $btc #cryptocurrency
#bitcoin $btc #cryptocurrency
2/ Source: en.wikipedia.org/wiki/List_of_c… which pulls most data from iea.org
Also, there's been a couple of articles highlighting Chinese mining ops that are relevant:
chinafile.com/multimedia/pho…
theweek.com/captured/71873…
aljazeera.com/indepth/inpict…
qz.com/1026605/photos…
Also, there's been a couple of articles highlighting Chinese mining ops that are relevant:
chinafile.com/multimedia/pho…
theweek.com/captured/71873…
aljazeera.com/indepth/inpict…
qz.com/1026605/photos…
3/ "The global "capital of bitcoin mining" is China's Sichuan province, thanks to its abundance of hydropower plants and some of the world's cheapest electricity. Bitcoin mines there can gross millions per year"
4/ @BitMEXResearch just put this out:
"The graphic illustrates that miners may target areas where there is already surplus power capacity...Bitcoin mining wastes less energy than one may think, since miners often use already uneconomic energy projects."
"The graphic illustrates that miners may target areas where there is already surplus power capacity...Bitcoin mining wastes less energy than one may think, since miners often use already uneconomic energy projects."
Miners will go wherever electricity is cheapest and that is usually excess hydro.
"By the end of this year, according to some estimates, the Mid-Columbia Basin could account for as much as 30 percent of the global output of new Bitcoin"
seattletimes.com/business/bitco…
"By the end of this year, according to some estimates, the Mid-Columbia Basin could account for as much as 30 percent of the global output of new Bitcoin"
seattletimes.com/business/bitco…
"Miners from China landed their private jet at the local airport, drove a rental car to the visitor center at the Rocky Reach Dam, just north of Wenatchee, & according to Chelan County PUD officials, politely asked to see the “dam master because we want to buy some electricity.”
-New ~$700M bitcoin mining op being setup in upstate New York by Coinmint.
-Old Alcoa plant which shutdown 4 years ago.
-Cheap excess hydro & wind power.
-435 Megawatts, "expected to be world's largest."
cnbc.com/2018/06/05/bit…
-Old Alcoa plant which shutdown 4 years ago.
-Cheap excess hydro & wind power.
-435 Megawatts, "expected to be world's largest."
cnbc.com/2018/06/05/bit…
“We have exclusive rights to the area for a wind farm, but the issue was there’s no real place to put [the electricity]...These days, what you can do with stranded power is set up a computing center, develop this as an off-grid project.”
bloomberg.com/news/articles/…
bloomberg.com/news/articles/…
"The HashGen uses excess or wasted sources of natural gas to power a remotely controllable hashing data center. Housed within a portable shipping container, we are currently offering the HashGen in 40, 75 and 110 kW configurations."
upstreamdata.ca
upstreamdata.ca
Bitcoin mining makes renewable energy much more profitable to develop & maintain since it can provide an on-demand use for excess energy production. A 'synthetic battery' but rather than store energy, you convert it to money and store that.
xbt.net/blog/hydroelec…
xbt.net/blog/hydroelec…
