Company with 300,000 bitcoin miners to buy another $125 million

Consuming more energy than Brazil generated in solar

To put it in perspective, 1 gigawatt is equivalent to the energy generation of 110 million LEDs and 3 million photovoltaic panels. It's also the same amount used by Marty McFly and Doctor Brown to travel until October 21, 2015 in the classic Back to the Future. 1 gigawatt. was the energy used for Dr. Brow to travel to the futureAccording to Absolar, Brazil reached in 2019 a total of 1 gigawatt in distributed solar generation, including residential, business and public installations.The value is really impressive. But it doesn't compare to the total consumption of bitcoin, which comes to 142 TWh, or a consumption comparable to that of Ukraine. Despite the stratospheric numbers, bitcoin mining can help accelerate the adoption of renewable energies such as nuclear or solar, as I explain in the podcast “Chinese miners have cut the power, now what? | Bits Weekly #14“.Genesis Digital itself has committed to using clean energy sources on mining farms, according to the US Bitcoin Miners Council meeting – in which Genesis participated.“Our mission is to provide the infrastructure that will fuel the open source money system revolution,” said Abdumalik Mirakhmedov, co-founder of Genesis.Sources: Energy.gov, Portal Solar, Genesis DigitalBuy and sell Bitcoin and other cryptocurrencies at Coinext
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Ethereum update will make some tokens useless

Sun Aug 1 , 2021

The next update of the Ethereum network (ETH), the hard fork 'London', scheduled for next Thursday (5th), has generated a lot of comments around EIP-1559, which is a controversial code change as it burns the transaction fees, taking part of the cryptocurrency out of circulation. However, these ETH tokens aren't […]

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Cut the power to Chinese miners, now what? | Weekly Bits #14

Company with 300,000 bitcoin miners to buy another $125 million

Ethereum update will make some tokens useless

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