Tag: electricity

Sep 17 2022

Five Factors Making Bitcoin Miners Unique Energy Consumers

Bitcoin miners are uniquely flexible energy consumers we can use as energy tools to help solve several energy problems.This is an opinion editorial by Jaran Mellerud an analyst at Arcane research focusing on Bitcoin mining.Most people disregard bitcoin miners as simply yet another energy-intensive industry, but there is one big difference: Bitcoin miners are uniquely flexible concerning when...

Sep 16 2022

Bitcoin mining and electricity consumption explained

Bitcoin mining consumes a whole lot of electricity, even more than those consumed by nations. This article further delves in to this topic and explains why this phenomenon is so. Bitcoin mining is the method through which new bitcoins are placed into circulation. Bitcoin mining is laborious, expensive, and only seldom profitable. However, because miners […] The post...

Bitcoin mining and electricity consumption explained

Bitcoin mining consumes a whole lot of electricity, even more than those consumed by nations. This article further delves in to this topic and explains why this phenomenon is so. Bitcoin mining is the method through which new bitcoins are placed into circulation. Bitcoin mining is laborious, expensive, and only seldom profitable. However, because miners […] The post...

May 02 2022

MedTech Firm, Spine, Changes Name, Introduces Product for Crypto Miners

Spine Injury Solutions, a spine injury-related medical service and technology (MedTech) company, , has changed its name to Bitech Technologies Corporation.

Apr 20 2022

Bitcoin Mining Around The World: Norway’s Outsized Presence Relative To Its Size

What makes this Arctic outpost so attractive to bitcoin miners, considering the country’s tiny geographical size and small population? The below article is part of a larger series on Bitcoin mining around...

Apr 16 2022

The Energy System Benefits From Bitcoin Mining

Bitcoin strengthens the grid due to the incentivization of energy production. It supports the people who need electricity and miners as buyers of last resort.Illiteracy is a peril of the trade for anyone working in the technology sector. New technologies tend to be met with resistance until they’re broadly understood, and sadly, policymakers and regulators are frequently guilty of the most egregious...

Apr 08 2022

Building New Grids To Support Local Communities And Strengthen The Bitcoin Network

Apr 08 2022 Published at Bitcoin Magazine under tags  business electricity energy griid mining

Bitcoin mining companies are working with electricity providers to find solutions for power that support mining and community access to electricity.Bitcoin mining specialists sat down together to discuss how mining companies can work with local grids to strengthen electricity production and distribution at the Bitcoin 2022 conference in a panel titled “Building New Grids.”The panel was moderated by Zack...

Mar 12 2022

How Bitcoin Mining Strengthens Electricity Grids

Bitcoin enables mining utilities to engage in agreements that are mutually beneficial to miners and the electricity grid.The House Hearing on Crypto’s Energy Use & Impact, held on January 20, 2022, was ultimately championed by a stellar defense of Bitcoin’s energy use by Brian Brooks, with an...

Dec 28 2021

Iran Closes Crypto Mining Operations to Prevent Winter Blackouts

Iran expects energy needs across the nation to increase during low temperatures in the coming months. Local energy authorities in the country have therefore decided to halt operations of authorized...

Nov 08 2021

Kazakhstan Senate Approves Legislation To Monitor Crypto Service Providers

The Kazakhstan national parliament has passed a law that subjects crypto service providers to the country’s financial monitoring system. The law aims to protect investors and also prevent crypto-related crimes from happening. According to a...

Oct 04 2021

Kyrgyzstan Government Raises Rates For Crypto Miners

The Cabinet of Ministers of Kyrgyzstan has recently revised its electricity tariffs for different groups of consumers. The authorities have raised the rates at which crypto mining businesses buy power. They cited the energy- intensive nature of the crypto mining process. Related Reading | More Miners Come Back Online...

Sep 24 2021

Midwest Utility Mines Bitcoin To Balance Electricity Supply

Missouri's largest utility, with 1.2 million customers, is mining bitcoin to better match demand and manage variability on the grid.Ameren Missouri, the largest utility in the state that serves 1.2 million customers, began experimenting with bitcoin mining in April to manage variability on the grid, reported...

Sep 20 2021

NYDIG Report: Bitcoin Provides Value That Far Outweighs Its Energy Costs

Sep 20 2021 Published at Bitcoin Magazine under tags  bitcoin electricity energy markets nydig

"Bitcoin Net Zero" explained that Bitcoin's energy usage has to be seen in the context of its merits and why the currency is a unique innovation to humanity.NYDIG published today "Bitcoin Net Zero," a 70-page document that evaluated Bitcoin's energy consumption in the context of its role in society. The paper, co-authored by Nic Carter, general partner of Castle...

Sep 17 2021

Lessons From The “This Machine Greens” Bitcoin Documentary, Pt 1: Net Positive

What does the “This Machine Greens” title suggest? It’s a documentary about Bitcoin mining. The thesis is that the process is “a net positive for the environment.” The aim was to “dispels many of the misconceptions about Bitcoin mining.” Can the team behind...

Dec 01 2020

You Don’t Have To Worry About Bitcoin’s Reliance On Utilities

Imagine what life would be like if there were no electricity or communications networks available. How many days of food do you have at your house? How much cash do you have on hand? Can you go out to try to buy up what’s left at the stores that still have their doors open? What else would you be worried about? What would...

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