Jan 7, 2022
The city of North Vancouver in Canada plans to harness electricity created by Bitcoin mining to heat homes and offices. The city’s energy utility company will be joining forces with cleantech crypto miner, MintGreen
Bitcoin has risen from a fringe technology popular with cryptographers to a worldwide currency, Although fascinating, the computing power required to support the algorithms have been sharply criticised for its environmental footprint.
The argued Bitcoin transaction consumes 1,173 kilowatt hours of electricity. This volume of energy could "power the typical American home for six weeks," according to the MoneySuperMarket. The Crypto Climate Accord was launched in 2021 by a group of non-profit organisations in a bid to make the booming cryptocurrency industry renewable and sustainable. The city of North Vancouver in Canada is planning to harness electricity created by Bitcoin mining to heat homes and offices.
For the first time ever, the city’s energy utility company will be joining forces with cleantech crypto miner, MintGreen to be able to achieve this feat. The electricity operation will involve using MintGreen’s Digital Boilers, which could recover more than 96 per cent of the energy consumed for bitcoin mining and use it to heat over a 100 commercial and residential buildings, in the hills of North Vancouver. This is an innovative initiative that could offset the environmental damage caused by mining the valuable cryptocurrency.
Companies such as MintGreen have already begun branching into providing heating solutions to a local brewery and sea salt distillery. This is an example where innovation meets sustainability. We at Enposs appreciate this effort!