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Friday, December 3, 2021

Bitcoin Miners Looking At Sustainable Energy

Most of the major miners in the Bitcoin mining industry have been looking towards nuclear energy as more pressure mounts towards going green. As it stands, nuclear energy could provide a tremendous opportunity to bring about enormous amounts of carbon-free, clean energy to the base mining load, as mentioned by Harry Sudok, the vice president of GRIID at the BTC & Beyond Virtual Summit on the 10th of November.

Currently, GRIID is simply an American company that deals in low-cost, renewable energy which is then used to create mining facilities for BTC operators. 

Nuclear Energy For Bitcoin Mining?

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Sudok believes that past programs of subsidy along with discourse about renewable energy have definitely shifted the focus towards wind and solar power- whilst neglecting the benefits put forward by nuclear energy. He maintained that the rate of growth has been strictly focused around wind and solar currently- and this simply seems to be the reality of the programs which have been introduced over the last decade or so. But currently, what most cryptocurrencies like Bitcoin would need is an expansion of nuclear energy. 

Samson Mow, the chief strategy officer of Blockstream, was also a panelist along with Sudock that discussed the complexities of energy expenditure and Bitcoin mining. Mow went on to reference the role that FUD tends to have in discussions that circulate around crypto mining- which he believes could lead to major misunderstandings- not just about BTC mining, but also the production of energy in general.

Mow is quite popular throughout the entire crypto industry for being a major proponent of Bitcoin mining. He believes that the major problem that has cropped up is that society has regressed in its views about nuclear power, and has moved towards other forms of energy like wind and solar- which are not only more expensive but complex too. 

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