‘Poopcoin’: Korean professor uses bio-waste to mine crypto
Students in a South Korean college are earning crypto mined from the energy generated from their excrement. “Shitcoin” may no longer be solely a term used to describe altcoin projects with questionable value propositions, as one South Korean university professor has taken the term to a more literal dimension.Cho Jae-weon of the National Institute of Science and Technology in Ulsan, South Korea, has created an eco-friendly toilet system that produces fertilizer and energy from human excrement.Jae-weon, a professor of urban and environmental engineering, said the toilet system incorporates a....
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There wasn't enough interest in the project, and it wasn't able to stand on its own, the Korean professor behind the Beevi project said. The South Korean government has put the lid on a science program that created toilets designed to turn human waste into electricity, heat, and digital currency.The Science Walden project was revealed in July 2021 to the amusement of the crypto community and the wider public alike — introducing the “BeeVi” toilet which turned human excrement into methane gas and rewarded its “depositors” with a digital currency called Ggool.Speaking to Cointelegraph,....
On Tuesday, Stronghold Digital Mining, Inc., an ESG-friendly cryptocurrency miner announced it has raised $105 million in two private equity securities funding rounds. Stronghold’s operations convert waste coal into alternative energy in order to mine bitcoin and other cryptocurrencies. ESG-Friendly Crypto Miner Turns Coal Waste to Bitcoin, Operation Raises $100M While many have been focused on the environmental concerns stemming from outdated reports and maps, a number of ESG-friendly cryptocurrency mining firms have been making moves in the industry. Stronghold Digital Mining is a....
In a bid to make crypto mining more environmentally friendly, Stronghold Digital Mining is turning harmful waste from coal mining into clean energy to power Bitcoin miners. Stronghold Digital Mining (SDIG), a crypto mining company in Pennsylvania, is turning waste from old power plants into energy to power hundreds of Bitcoin mining rigs.The company collects coal refuse, a leftover waste material from the process of coal mining, and burns it in what it says is an emissions-controlled environment at its energy generation facilities.Coal refuse can cause a raft of environmental problems,....
Stronghold Digital Mining has raised more than $100 million in two private placements supporting its model for sustainable Bitcoin mining. The Pennsylvania-based Stronghold Digital Mining has announced the completion of two private equity securities raises worth $105 million.According to an announcement shared with Cointelegraph, the firm’s first power generation facility, the Scrubgrass Generation Plant in Venango County, converts waste coal into energy on a scale equivalent to “a large-scale hydropower plant” that is then used to mine Bitcoin and other cryptocurrencies. The waste coal....
Banking institutions in South Korea have reportedly requested to not be held accountable for crimes linked to cryptocurrencies such as money laundering. According to local media, financial regulators are now developing rules that could relieve Korean banks from responsibility when screening the crypto exchanges they work with. New Guidelines to Appease South Korean Banks Korean Banks remain reluctant to open real-name accounts for traders on domestic cryptocurrency exchanges, the Korea Herald wrote on Sunday. The reasons hide in recently adopted regulations obliging the trading platforms....