Households Are Exploiting Cheap Siberian Energy to Mine Bitcoin
Russia’s cold climate and cheap energy lead thousands of households to mine bitcoin.After China banned bitcoin earlier this year, Russia became the world’s second-biggest bitcoin miner country. Its cold climate nurtures the perfect conditions for bitcoin rigs to function at top performance for long periods without fancy cooling systems. But in addition to enterprise operations, home mining is also becoming popular in Russia.According to a report by The Telegraph, over 14,400 households in Irkutsk, Russia, are estimated to be mining bitcoin, up from 8,000 last year. The region benefits from....
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A Russian company is leveraging the Siberian city of Norilsk located above the Arctic Circle in order to mine bitcoins. Bitcluster, the owner of the crypto mining operation, plans to expand the firm’s activities after launching the facility in late 2020. According to the company’s website, the datacenter is getting electricity rates as low as $0.03 per kilowatt-hour (kWh). Mining Precious Crypto Assets in the Arctic Circle This week the Russian mining operation Bitcluster was featured in a Bloomberg video-report that highlights the company’s Norilsk bitcoin mine. The city....
The very low power rates in Venezuela have created a powerful incentive to mine Bitcoin for a lucky few that have the capital (and dare) to purchase miners and infrastructure in the country. The rise of digital currencies has created a new industry that uses cheap energy and turns it into precious Bitcoin. In other regional news, Axie Infinity, a play-to-earn game, has created opportunities for the less fortunate ones. The country is going digital because of the possibilities these new tools offer.
Cheap Power Creates Mining Opportunities in Venezuela
The cheap cost of....
Another day, another bitcoin mine that uses green energy to operate. We have to highlight these initiatives to show how bitcoin and green energy are a complete match. They’re not at odds with each other as the FUD wants you to think. This time, it was The Guardian that took a look at Kryptovault. “A […]
Three months after announcing their plans to engage in Bitcoin mining in Latin America, Tether, the issuer of the world’s largest stablecoin USDT, is readying to deploy their first rigs. According to chief technology officer Paulo Ardoino, Tether Energy is operationalizing their miners at a disclosed location in Latin America. Tether Energy All Set To Mine […]
A Kenyan bitcoin mining company, Gridless, recently revealed how it is helping local communities reduce electricity costs by using excess generated power to mine bitcoin. The Gridless model has been hailed because it potentially helps to decentralize bitcoin mining as well as move some hashpower to Africa.
Using Wasted Energy to Mine Bitcoin
Gridless, a Kenya-based crypto mining company, has said the excess electricity from mini-grid hydro generators is now being used to mine bitcoin. The revenue generated from bitcoin mining helps to reduce or subsidize the cost of....