[2018-09-02] Increase in the 50 percent energy rate for Crypto Miners

[Compiler]

Increase in the 50 percent energy rate for Crypto Miners

A new progressive augment of up to 50% for crypto miners is approved in the central state of Washington. The first year of 15%, the next 35% and the third 50%.

https://news.bitcoin.com/energy-rate-hike-crypto-miners-washington-state/

[milewilda]

Increase in the 50 percent energy rate for Crypto Miners

A new progressive augment of up to 50% for crypto miners is approved in the central state of Washington. The first year of 15%, the next 35% and the third 50%.

https://news.bitcoin.com/energy-rate-hike-crypto-miners-washington-state/

Sad thing which the increase do compounds as the years goes by together with mining difficulty which with just our common sense we can already foreseen that mining on that place
would really be a complete suicide of your funds  They do really like crypto. lol

[gentlemand]

I think this is going to keep on happening. Miners are like locusts. They show up and strip everything until they get priced out to stop upending regular service.

How long until mining concerns start building, or at least financing, their own power stations?

[BitHodler]

How long until mining concerns start building, or at least financing, their own power stations?

I think it's already happening in the background, we just don't get to read much about it. The negative to this is obviously miner centralization with how only the deepest pockets will be able to set up their own power source.

On the other hand, I don't think the same will happen in Scandinavian countries with how there is almost no limit to what they can generate. It's pretty much you pay and we deliver, even if it concerns insane amounts of megawatts.

I however wonder if there is no easy way to re-use the heat these farms generate. Currently most of all this heat is put to waste while it's actually a valuable and near infinite resource with more value than what people credit it for right now.

[gentlemand]

I think it's already happening in the background, we just don't get to read much about it. The negative to this is obviously miner centralization with how only the deepest pockets will be able to set up their own power source.

I think we're going to have to accept that it's not getting any less centralised. We can only hope there are enough competing super deep pockets, and that they all hate each other.

I'd love to know the types of time frames these mega miners have for anticipated returns. The figures needing laying out now must be breathtaking if you're starting from scratch. Then again maybe starting from scratch isn't viable at all any more. We need a mega mining mole to inform us.

[FlamingFingers]

would really be a complete suicide of your funds  They do really like crypto. lol

Yeah. It is like miners are evading paying for electricity or something. Both this and reporting for taxes are going with the same logic—ripping 50% off of your crypto earnings.

I however wonder if there is no easy way to re-use the heat these farms generate. Currently most of all this heat is put to waste while it's actually a valuable and near infinite resource with more value than what people credit it for right now.

Don't miners already use the heat coming out of their mining rigs to warm themselves in winter saving on heating bills (sometimes even free) along the way? Or do you mean like Thermoelectric Generator concept (turning 'waste' heat in to additional electricity)?