Solar-Powered Crypto Farm in Australia to Prove Bitcoin Mining Can Be Green

A crypto mining data center in the state of South Australia will be running mainly on solar-generated electricity, a media report reveals. The coin minting facility has been set up in a region known for its energy-hungry iron ore extraction and steel production. Bitcoin Farm to Mine Cryptocurrency on Solar and Excess Energy in South Australia The ‘Steel City’ of Whyalla in South Australia has become home to a new crypto mining installation that will run on electricity generated from solar power. Operated by the Lumos Digital Mining company, the…

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Bitcoin Mining Operations Continue to Expand Amid the Crypto Winter, While Converting ‘Wasted Gas to Energy at Scale’

The bitcoin mining industry continues to expand as companies are obtaining more megawatts of capacity, building new facilities, and acquiring thousands of application-specific integrated circuit (ASIC) mining rigs. On Friday, the firm Validus Power revealed it has acquired two natural gas power stations in Ontario, Canada, that will become crypto mining facilities. On the same day, the firm Applied Blockchain got a $15 million loan to fund growth and “buildout of its data centers.” While the bitcoin mining industry’s growth has been exponential, at the same time, bitcoin mining operations…

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Iran to Shut Down Crypto Mining Farms Amid Record High Power Demand

Authorities in Iran plan to unplug licensed crypto mining facilities as electricity consumption in the country is reaching record highs. The mining farms will be cut off from the grid on Wednesday, the Islamic Republic’s Ministry of Energy announced. Legal Crypto Miners in Iran to Halt Operations Again Due to Electricity Shortages Authorized crypto mining enterprises in Iran will have to unplug their power-hungry coin minting equipment from the beginning of Tir, the next month in the Iranian calendar, or Wednesday, June 22. Mostafa Rajabi Mashhadi, spokesman of the Ministry…

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Russian Finance Ministry Rules Out Sale of Oil for Bitcoin

The Russian government considers bitcoin as a payment option for small business transactions, not for oil exports, the country’s finance ministry has indicated. A top official emphasized the department means that cryptocurrencies may be used in barter deals, but not as legal tender. Crypto Payments Not for Russian State Settlements, Ministry of Finance Says Cryptocurrency payments, in terms of international transactions, are seen by the authorities in Moscow as an alternative option for small private business contracts, but this will not affect Russian oil deliveries. The clarification was made by…

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Understanding Bitcoin’s Energy Consumption – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

[ad_1] Watch This Episode On YouTube Listen To This Episode: On this episode of “Bitcoin Bottom Line,” host C.J. Wilson was joined by veteran and contributor to Bitcoin Magazine Mike Hobart. Wilson and Hobart share similar backgrounds in exercise, physiology and kinesiology. Hobart’s journey started in 2013 when he joined the military. He gave credit to the book, “Man’s Search For Meaning” by Viktor Frankl for opening himself up to finding purpose after being in a dark place. He studied exercise science while in school allowing him to now write articles…

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Bitcoin Energy Per Transaction Metric Is Misleading

[ad_1] Environmentalists say Bitcoin uses too much energy. The world can’t afford it. It’s not worth it. That’s what they say. So, it must be true. Or must it? If you’re reading this, you’re probably aware of the popular anti-Bitcoin “energy per transaction” narrative. You’ve seen it in many major media publications. It goes something like this: “According to Digiconomist, a single bitcoin transaction uses the same amount of power that the average American household consumes in a month — which equals roughly a million times more in carbon emissions…

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Kosovo Halts Cryptocurrency Mining Amid Energy Crisis – Mining Bitcoin News

[ad_1] The government of Kosovo has decided to suspend crypto mining activities in the country as part of measures to deal with power shortages this winter. The move has been proposed by a special parliamentary committee tasked with bridging the gap between electricity demand and supply. Kosovo Authorities Ban Crypto Mining to Save Needed Energy The executive power in Pristina has moved to stop the energy-intensive minting of digital coins in Kosovo, a partially recognized republic in Southeast Europe. The country is facing electricity shortages during the cold winter months,…

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Solar Energy Bitcoin Government And Inflation

[ad_1] The mainstream narrative for Bitcoin in 2021 has centered a lot around the “E,” or “environmental” aspect of ESG (environmental, social and corporate governance) and Bitcoin. One point that has not been mentioned is that running your own home on renewable energy can protect and insulate you from the bad “G” of the government’s reckless monetary and energy policies. Self-sovereignty is one reason why some survivalists (aka preppers) see renewable energy as part of their standard toolkit. Generating one’s own energy protects from various potential types of disruptions to…

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Is ESG, Bitcoin Energy Criticism, Fascist?

[ad_1] The below is a direct excerpt of Marty’s Bent Issue #1077: “More Unsolicited Thoughts On ESG.” Sign up for the newsletter here. via Aswath Damodaran’s Musings on Markets I know, I know, I know. Some of you may think Crazy Uncle Marty’s anti-ESG schtick is getting a bit nauseating. However, as you should have realized by now, I cannot control myself. When I think there is a good point to be made about the subject, I will make it. And that is what I am here to do today.…

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Veriblock Reveals Initiative to Recycle Bitcoin’s Energy Consumption by Securing Dogecoin – Technology Bitcoin News

[ad_1] On Wednesday, the Veriblock project, a blockchain that leverages the implementation of proof-of-proof (PoP) consensus, announced an initiative to secure the Dogecoin blockchain using Bitcoin. The Veriblock Foundation believes the effort counters the hostile ‘Blood Bitcoin’ narrative in regard to recent environmental concerns over proof-of-work (PoW). Veriblock to Secure Dogecoin via PoP and Bitcoin’s PoW The Veriblock Foundation, a nonprofit created to bolster the adoption of Veriblock’s PoP securitizing consensus algorithm, has revealed a new initiative dedicated to securing the Dogecoin network. Presently, Veriblock developers are in the midst…

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