Considering that a single Bitcoin mining farm might be running hundreds or thousands of mining rigs all day, every day, it’s easy to see how that much energy can be created.
The good news for large-scale Bitcoin mining operations is that the cheapest sources of energy are also the cleanest and most sustainable, like wind, solar, and hydropower, which are all cheaper sources than gas and coal.
Solar is the most widely used renewable energy source, and is also one of the most straightforward: Capture energy from the sun’s rays through photovoltaic cells in solar panels.
Again, it’s a renewable energy source that doesn’t require drilling or mining — simply the construction of wind turbines — and the energy produced can power single homes, cities, or even countries.
It’s also an incredibly consistent source of energy, as constantly running waterfalls can provide steady, endless power, whether it be captured through running rivers or simulated through damming and turbines.
El Salvador president Nayib Bukele made news when he tweeted an invitation to Bitcoin miners to use their volcano energy, which is in fact geothermal energy, another renewable resource.
Instead of running water, tidal barrages set up at the tide line or turbines set up in the ocean below sea level capture the movement of the water and turn it into electricity.
Another renewable source is waste energy, where organic material is broken down to create heat through either incineration or bacteria that decompose organic material.
Others are using their excess mining farm heat to power greenhouses and other local industries, and even to heat towns.
He is a tech investor and seasoned manager with a focus on Digital Assets and Artificial Intelligence industries.
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