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Op Ed: Bitcoin’s Energy Consumption Is Neither Frivolous Nor Excessive

As the CEO of Hut 8, one of North America’s largest cryptocurrency miners and the world’s largest publicly traded cryptocurrency miner, I’m often asked questions about energy consumption in the mining of cryptocurrency. Unfortunately, there are many misconceptions around energy use and why it’s required to safely and securely transact cryptocurrencies.During our ribbon-cutting ceremony in […]
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Iceland’s Industry to Shift From Crypto Mining to ‘Pure Blockchain Business,’ Insiders Say

Iceland’s crypto industry is expected to move away from crypto mining and shift to “pure blockchain businesses.” This is according to forecasts made by a number of local industry insiders who talked to the news site Red Herring September 23.Halldór Jörgensson, chairman of Reykjavik-based Borealis Data Center, told Red Herring that demand from local crypto […]
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Bitcoin’s Energy Consumption in Summer: Rise or Fall?

It’s no secret that Bitcoin (BTC) mining is an expensive business, and in more ways than one. Not only has it become less profitable since July 2016’s halving of mining rewards to 12.5 BTC, but competition among miners and an increasing hashrate have resulted in ever-higher energy consumption, with all the damage to the environment […]
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Chinese Holding Firm to Convert US Defense Department Data Center Into Crypto Mining Farm

Chinese holding company Wuhan General Group (China), Inc. has entered negotiations to transform a U.S. Defense Department facility into a crypto mining farm, according to a press release published September 11.Per the press release, in case of a successful outcome to the negotiation, the company will receive the first order of rigs in late October, […]
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Energy Firm ENGIE Partners With Consulting Firm to Create Blockchain Software Offering

French electric utility company ENGIE and consulting firm Maltem Consulting Group have jointly established a blockchain development firm designed for commercial customers, according to a press release published September 7.The new project called Blockchain Studio received seed funding totalling €1.9 million (around $2.1 million). Blockchain Studio has created a software suite for commercial enterprises comprised […]
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Bringing Renewable Energy to the World Using Blockchain Technology

Modern energy services are vital to human well-being and to a country’s economic development, yet according to the International Energy Agency (IEA), globally 1.2 billion people lack access to electricity. It’s thought that around 95 percent of these people are in either sub-Saharan Africa or developing Asia, with 80 percent in rural areas.Ethereum-based platform ImpactPPA […]
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