KenGen, which generates most of its power from renewables, said miners have been reaching out about buying its energy. The plan is to have miners set up in an energy park at the company’s main geothermal power station in Olkaria, Naivasha, 123 km from the capital Nairobi. Kenya is Africa’s top geothermal energy producer with […]
“If you told me you owned all the bitcoin in the world and you offered it to me for $25, I wouldn’t take it because what would I do with it?” Buffett said. Compare that to a slightly different perspective: For an asset to have value, someone must be willing to pay for it. As Mariana […]
Most central banks in Africa prevent banks from processing transactions involving cryptocurrencies. Other African countries have been more inclined to Central Bank Digital Currencies, which however, according to the Kenyan Central Bank are being held back from full adoption by limited smartphone penetration. Nigeria was the first African country to adopt a CBDC when the eNaira went […]
In the ongoing boom in bitcoin, mining companies are scrambling to mint as much of the currency as they possibly can. And in this crypto bull market, delays are critical. Marathon locked in an average price of around $3,000 per machine, but given how the value of bitcoin has soared, an order placed today will […]
The most reputable such estimate comes from the University of Cambridge Bitcoin Electricity Consumption Index, according to which the global bitcoin network currently consumes about 80 terawatt-hours of electricity annually, roughly equal to the annual output of 23 coal-fired power plants, or close to what is consumed by the nation of Finland. An Algeciras class […]
Stronghold Digital Mining, a new, “ESG-friendly” bitcoin-mining firm, uses the electricity from the Scrubgrass Generating Plant in Kennerdell, Pennsylvania, to power its operations. Scrubgrass burns not coal but waste coal—the stuff left over from coal mining, also called “culm” or “tailings.” At least 450 million tons of waste coal sits around in western Pennsylvania; acid […]
Coinbase founder Brian Armstrong got two big things right: He understood early on that bitcoin was a trillion-dollar opportunity, and that regular people would need a simple, regulator-friendly way to access it. But it’s an open question whether bitcoin and its ilk will become a genuine alternative to fiat currencies, gold, and finance as we […]