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How can we resolve it?

How can we resolve it?

As the cryptocurrency industry has been developed exponentially, cryptocurrency mining field has been expanded substantially at the same time. Consequently, immense energy consumption is inevitable for its mining. What directly triggers an intimate relation between the energy sources and cryptocurrency mining?

During the first generation of crypto mining industry, miners were able to receive Bitcoin with a great ease through CPU. However, miners desired the dominant-performance equipment like GPU or ASIC as the public interest increased. Thousands of mining equipment operations and their temperature management require a tremendous energy.

Is there any possible resolution for the energy issues? Here are some examples that we have tried to address this environmental problem.

Heating sources

The immense thermal energy resulted from mining rigs can be used as the heating sources. Last year, co-founder of Nakamoto X, Kamil Brejcha, successfully harvested tomato using excess heat of crypto mining for greenhouse temperature management. ‘Cryptomato (Crypto+Tomato)’ is the first case that recycled the mining energy into different source of industries.

This thermal energy can be applied not only for agricultural usage, but also for household heating. People can save the cost of house temperature management through mining rigs’ heat instead of gas heating or electric heating. French startup, Qarnot, released ‘QC-1’ which enables both crypto mining and household heating simultaneously. It directly connects to miner’s house and transmits mining rig’s heats into energy sources.

Its diverse trials can strongly alter the general energy sources in cold regions with future-developing equipment.

Cosmic energy into cryptocurrency mining

Space industry is still underway in developing further stages; we can highly forecast that generating electricity through the solar heat. When the solar power generation is enabled, we can produce cost-effective electricity without any disturbance from the atmosphere.

Still cryptocurrency mining is not taking the major portion of total electricity consumption, but a prospect toward mining in the space is highly potent. Even if it will consume the same amount of energy, the notoriety of crypto mining energy consumption would be subsided when electricity generation charges much less amount of capital.

Inevitably, cryptocurrency mining will not be able to eliminate several negative respects about energy consumption. However, we have tried a variety of ways to recycle, regenerate, and economize the energy sources aside from the examples that we mentioned above. Based on the column from bitcoinist.com, we are able to reduce more than 70% of electric fee compared to the general usage of electricity. Therefore, an increasing number of people give an attention to trend of developing new schemes to make a solid settlement. Stay Tuned!

Published at Tue, 09 Apr 2019 05:55:03 +0000

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