Tag: electricity

  • Iceland

    Abundant Renewable Energy Makes Iceland a Crypto Mining Powerhouse

    Few countries around the world lend themselves to cryptocurrency mining. Iceland has always been a key region in this regard. Although it was never designed to become a hub for cryptocurrency mining, this new business model has introduced a few changes in the country over the years. It...

    JP Buntinx | June 21, 2018 | 1:00 pm
  • Bitcoin

    How Will Bitcoin Solve Its Energy Consumption Problem?

    If Bitcoin were a country, it would be the 40th largest consumer of electricity in the world. A new research paper has highlighted the growing problem as major cryptocurrencies seek to solve it. Bitcoin’s Energy Crisis Explored According to the figures, the amount of energy used for each...

    tim copeland | May 21, 2018 | 7:00 pm
  • New York

    The Bitcoin Network Uses as Much Electricity as Ireland: Study

    According to a new study, the Bitcoin network could be consuming as much as 0.5% of the world’s total electricity — a number comparable to the amount of power used by the entire country of Ireland.  Bitcoin and Electricity Usage That said, determining exactly how much electricity the...

    Thomas Delahunty | May 17, 2018 | 10:00 pm
  • Altcoins

    Australian Power Company to Reopen Coal Power Plant to Mine Bitcoin

    An Australian power company have signed a contract with a cryptocurrency mining firm to provide them with cheap off-grid power. The IOT Group will be building a digital currency mining hub that’s actually inside a disused coal-fired power station in the Hunter Valley region. Off Grid Power Will...

    Rick D. | April 12, 2018 | 11:42 pm
  • Bitcoin

    New York Bitcoin Miners Charged Higher Electricity Rates

    The New York State Public Service Commission (PSC) has ruled that upstate power companies can charge bitcoin miners higher electricity rates who may be trying to take advantage of the state’s cheap electricity supply. Power Up Last week, it was reported that Plattsburgh city in upstate New York had...

    Rebecca Campbell | March 21, 2018 | 1:39 am
  • envion

    Envion is Bringing Mining to the Source in Mobile Containers

    Energy costs vary so much across the globe that mining can either be super profitable, or a total waste of time. On top of that, the primary energy that is being used, especially when it comes to cheap energy, is dirty. Moreso, there are issues when it comes...

    Jayanand Sagar | November 30, 2017 | 5:54 pm
  • mining

    Bitcoin Mining Requires More Power Than Is Used in 159 Nations

    With the news of Bitcoin all-time high prices almost every week, it’s easy to forget that the world’s leading cryptocurrency is also setting new tops by other metrics almost as frequently. One of these is electricity consumption. According to an energy price comparison service in Britain, the environmental...

    Rick D. | November 24, 2017 | 3:47 am
  • bitcoin mining difficulty

    Bitcoin Miners in Washington to Pay More for Electricity

    Bitcoin miners in Chelan County, Washington will now have to shell out more for the electricity following Public Utility District‘s decision to increase energy tariff from next year. The increased energy rates are not just applicable to Bitcoin mining centers but to other energy intensive operations including regular data centers and...

    Gautham | July 21, 2016 | 1:15 pm

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