Natural Gas And Nuclear Energy Are Becoming BTC Mining Sources
Bitcoin (BTC) energy requirement has been the highest source of concern regarding the crypto industry. During mining, its high consumption rate negatively impacts the environment. This issue could cause the government to ban BTC mining if no solution is preferred. Data shows Bitcoin expends nearly 150 tetra watt-hours of electricity yearly, which is more than […]
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Some governments can negatively impact Bitcoin's environmental footprint by banning BTC mining, according to new data from Cambridge. The electricity mix of Bitcoin (BTC) has drastically changed over the past few years, with nuclear energy and natural gas becoming the fastest growing energy sources powering Bitcoin mining, according to new data.The Cambridge Centre for Alternative Finance (CCAF) on Tuesday released a major update to its Bitcoin mining-dedicated data source, the Cambridge Bitcoin Electricity Consumption Index (CBECI).According to the data from Cambridge, fossil fuels like....
California-based Oklo and Compass Mining will take the Bitcoin mining sector to the next level. These companies have consolidated a two-decade partnership to introduce advanced fission and harvest nuclear energy to substitute fossil fuels to mine BTC. Thus, the partners seek to diversify the Bitcoin mining sector and implement alternative sources of energy for this […]
The use of renewable energy for cryptocurrency mining has seen considerable growth, according to a new report. The rising energy demand of proof-of-work cryptocurrencies such as Bitcoin (BTC) has been a hotly debated topic. But the 3rd Global Cryptoasset Benchmarking Study by the University of Cambridge shows that 76% of cryptocurrency miners use electricity from renewable energy sources as part of their energy mix.The study found that over 39% of the total energy consumed by PoW cryptocurrencies including Bitcoin, Ether (ETH), Bitcoin Cash (BCH) and others comes from renewable energy....
Several major players say that nuclear energy might be the best choice for Bitcoin miners. Major players in the Bitcoin (BTC) mining industry have their sights set on nuclear energy as pressure mounts to go green. Nuclear energy could present a “tremendous opportunity” to introduce “enormous amounts of clean, carbon-free” energy to the base load, said GRIID vice president Harry Sudok at the ‘Bitcoin & Beyond Virtual Summit’ on Nov. 10. GRIDD is an American company that procures low-cost, renewable energy to build vertically-integrated Bitcoin mining facilities. According to Sudock, past....
Let’s imagine a nuclear power plant that integrates bitcoin mining on site. How does its profitability compare to a standard operation’s?