How This Company Uses Renewable Energy To Mine Crypto

1 min read

(11) HIVE Blockchain: Powering the Future of Crypto Mining - YouTube

Crypto mining has become increasingly energy intensive over the years. According to DW, Bitcoin mining consumes more energy than New Zealand and Belgium combined. Canadian company HIVE Blcokchain Technologies uses renewable energy to mine Ethereum at their data centre in Boden, Sweden.

The crypto mining facility gets electricity from excess hydro and wind power produced by the town of Boden. This is electricity that is not being used and would otherwise go to waste if not used by HIVE. HIVE is therefore able to purchase this excess electricity at a low rate and use it for their crypto mining endeavours.

In Sweden, temperatures can go as low as -30°C, meaning that the facility can save on electricity that would be needed to cool the mining rigs (crypto mining machines). HIVE’s 7 898,66 m² Sweden facility houses 15 000 mining rigs and has a 17MW capacity, roughly the same amount of energy used by 567 homes in one day.

HIVE also has crypto mining facilities called ‘data centres’, running purely on renewable energy in Canada and Iceland.

What do you think of HIVE’s crypto mining activities? Do you think using renewable energy is the future of crypto mining? Share your thoughts by replying to this email!

For more information on crypto mining with renewable energy, or any other energy related articles, view the blog posts on my website and be sure to open my weekly emails every Tuesday at 9am CAT.

Get your load shedding schedules here: Municipal Loadshedding schedules - Distribution (eskom.co.za)

Latest fuel prices: Fuel Pricing - AA

Making fuel from ammonia

Making clean jet fuel out of captured carbon emissions

Bill Gates disagrees that using a private jet is climate change hypocrisy