Sustainability in Bitcoin Renewable Energy

[Dunamisx]

This is one of the amazing ways to sustainability in the economy system and a means to profit maximization whereby waste energy end products serve as finished materials as such is used with energy trapped in drying wood and logs as this bring about with the story of how a Norwegian Bitcoin miner  make use of a renewable heat energy to dry wood and logs.

Making use of renewable energy as of recent has been consistently thing of consideration for bitcoin mining as such is in place with progress reports, while in this regard the heat energy emancipated from bitcoin mining activities is trapped, recycled and use to process the drying of logs at Kryptovault mining rig while advance energy usage on seaweed will later kick off this year in Norway.

This indeed is one of the ways bitcoin energy use can be made sustainable and recycled instead of constituting to global energy loss due to inefficiency from the bitcoin energy consumption statistics.

Development and innovative ideas are one of the strong pillars to using renewable energy in bitcoin mining to increase economy sustainability thereby reducing the effect of global energy loss due to inefficiency, bitcoin offers a solution to one of the major ecological world environmental challenges in this regard.

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[Ultegra134]

Certainly, electricity costs were always playing a huge role in Bitcoin mining, especially nowadays, with energy costs constantly climbing. Renewable energy sources will play a significant role in producing electricity in the next few decades. However, it sucks seeing that such technologies are yet to be widely adopted, with approximately 10-12% of the total energy produced stemming from renewable sources.

[Flexystar]

That’s very intelligent way to use the heat energy produced by mining farm. Definitely this is excellent but must need great detail of plan to trap and divert the energy towards logs and wood storage unit. I am not sure how are they able to do it without any energy losses but surely this project is ideal and must be followed by rest of miners around the globe.

I mean this is in the scope of mega farms only. As far as I know smaller mining farms won’t make much of the heat that can drive such big operation.  But I’m impressed to see something unique like this.

[uchegod-21]

This is a very fine project. What I am afraid of is the cost implications of the project. If the cost of developing a technology that will trap the energy generated by Bitcoin to a renewable energy is higher than the cost to generate the energy, I think the project will not be sustainable.
It is a good thing that bitcoin mining farms should begin to chase green energy so that bitcoin will not be falling into the trap of governments.

[tabas]

As long as it's sustainable and the person who have started it is making a profit, that's the good thing for him. I hope that the bigger mining companies would see to it that there will be different ways to adopt the use of recycled energy which is beneficial for the most of them.
There won't be any shortage in energy as there will be another source and it would be a separate usage since the source is from the renewable energy which is favorable to the government and environment.

[TimeTeller]

This is a very fine project. What I am afraid of is the cost implications of the project. If the cost of developing a technology that will trap the energy generated by Bitcoin to a renewable energy is higher than the cost to generate the energy, I think the project will not be sustainable.
It is a good thing that bitcoin mining farms should begin to chase green energy so that bitcoin will not be falling into the trap of governments.

Normally, you will incur high cost at the beginning of the installation of the equipment needed.
But in the long run, you won't shell out much money unless, there are some parts that need to be regularly changed or replaced.
So calculate of the possible ROI of the set-up, how many months or years do you need to run before you can get even with your investments?
If you think it is worth your effort, then do it. Renewable energy is our future to address one of the global concerns, which is climate change.
Maybe, as a miner, this initiative is one way to help this global problem. We should look for alternative ways not to contribute any more problem to the environment.

[Ultegra134]

This is a very fine project. What I am afraid of is the cost implications of the project. If the cost of developing a technology that will trap the energy generated by Bitcoin to a renewable energy is higher than the cost to generate the energy, I think the project will not be sustainable.
It is a good thing that bitcoin mining farms should begin to chase green energy so that bitcoin will not be falling into the trap of governments.

Normally, you will incur high cost at the beginning of the installation of the equipment needed.
But in the long run, you won't shell out much money unless, there are some parts that need to be regularly changed or replaced.
So calculate of the possible ROI of the set-up, how many months or years do you need to run before you can get even with your investments?
If you think it is worth your effort, then do it. Renewable energy is our future to address one of the global concerns, which is climate change.
Maybe, as a miner, this initiative is one way to help this global problem. We should look for alternative ways not to contribute any more problem to the environment.

The initial cost of such an investment isn't as costly as it was a few years ago, for instance, you can now set-up solar panels for your house for a few thousand euros. Certainly, the ROI of such investment may not be that high, however, it's a lifelong one, and especially with the rising electricity costs, it's definitely worth jt.

Moreover, as technology progresses, the initial cost will also drop further, even if it doesn't, I don't think it's something worrisome, since it pays off in a few years.

In order to battle climate change, we'll have to cut down on using fossil fuels, wide adoption of alternative ways such as renewable energy will be vital for our planet's well-being.

[Reid]

First time I heard about this in Norway and I can say I am surprised at how far they went into saving energy with hydropower and even try to recycle it.
Using the heat caused by mining rigs to dry woods and soon seaweeds. I am amazed. I just use the back of my computer to dry my socks  but they went further into using it for other materials. Heat is also energy, that didn't even cross my mind until now.

[hugeblack]

The problem of using Bitcoin for energy is part of an international crisis related to changing the currently available energy sources, as long as they are sustainable, then Bitcoin mining will be sustainable.

Efforts will continue if countries achieve the goals of the climate summit, and many environmentally destructive activities that waste energy are still operating, such as coal mines, shale oil, and others.

Source ---> https://home.uni-leipzig.de/energy/energy-fundamentals/21.htm

In general, Bitcoin is a small link in this global crisis.

[davis196]

The idea of utilizing the heat,which was produced from Bitcoin mining isn't something new and groundbreaking.
The problem is that the heat from BTC mining simply isn't enough to be used effectively as a byproduct.
The second problem is that this idea can be applied mostly in the northern countries,where the weather is cold.
I'm sure that a new type of BTC mining hardware will be created in the future.A BTC mining hardware,which can produce more heat by consuming less electricity,so that the heat can be used for warming up our homes during the winter,while reducing our electricity costs.I might be a dreamer,but who knows.

[Gyfts]

...

Even with solar panels, there's lots of issues. They aren't life long, they need to be repaired and maintained, and their efficiency goes down by 1% every year. The only renewable energy source that has any chance at being sustainable is nuclear, but the environmental radicals won't that happen either.

[Ultegra134]

...

Even with solar panels, there's lots of issues. They aren't life long, they need to be repaired and maintained, and their efficiency goes down by 1% every year. The only renewable energy source that has any chance at being sustainable is nuclear, but the environmental radicals won't that happen either.

My knowledge is pretty limited around the subject, thus I don't have any technical information, such as their efficacy, what maintenance they need, or how much time do they last. I've only heard that if it's not sunny enough, their efficacy dramatically drops, and you'll need decent batteries in order to keep up.

However, nuclear energy isn't actually a renewable energy source. While nuclear energy itself is renewable, the fuel it is required isn't. Don't get me wrong, I also support your opinion, nuclear energy is an efficient, generally safe and sustainable way to produce energy. Yes, there were incidents such as Chernobyl or Fukushima in the past, but technology rapidly progresses and learns from such mistakes.

[Similificator]

This is indeed the ideal mining that anyone wants and dreams to have and happen. Not only is it environment friendly, it lowers down the costs of capital in the long run. The only downside is that a big capital is needed to start such mining project and is truly a tedious process. Even so, if one has the right amount of capital and resources, then they should really opt for this kind of mining. Earning while helping the environment, who wouldn't be able to sleep better at night with that right?

[el kaka22]

It has been used for getting hotter during winter months ever since it got started. You do not have to pay the gas bill because you could get the house warmed up with them while making money instead of spending money. But that is only heating problem solved, with a ton of hot temps at your home or warehouse or wherever you are doing it, you could always turn that into something.

I do not know what it could be but there is an excess energy there as we all know and it could be used or directed somewhere proper to help you out. Someone much smarter than me could find it, drying woods is a start but it is not really a big scalable thing, I am sure something much better could be found.

[Darker45]

I agree. Heat from Bitcoin mining does not have to be simply damaging. Heat could be transformed into something else that is useful. After all, we all need heat in various ways. So, heat coming from Bitcoin mining does not have to be a complete waste.

The city of North Vancouver in Canada, for example, is trying to provide heat to almost all its homes from Bitcoin mining. This sustainable strategy will recycle at least 96% of the electricity used in mining Bitcoin.^[1]

Innovation is the key to sustainability. So rather than attack Bitcoin's heat emission, which is not even significant compared to the heat that is produced by our countless worthless activities, critics should instead find ways to make Bitcoin mining heat economical.

[1] https://www.independent.co.uk/news/world/americas/north-vancouver-bitcoin-mining-heating-b1941159.html

[Ozero]

First time I heard about this in Norway and I can say I am surprised at how far they went into saving energy with hydropower and even try to recycle it.
Using the heat caused by mining rigs to dry woods and soon seaweeds. I am amazed. I just use the back of my computer to dry my socks  but they went further into using it for other materials. Heat is also energy, that didn't even cross my mind until now.

Earlier, there was already information that in areas with a relatively cold climate, thermal energy from the mining of bitcoins and other crypto-currencies was used to heat houses. So this idea is not new. Thermal energy in any case is energy and it can be used for its intended purpose. Indeed, in some cases, people specifically convert electrical energy into thermal energy. Only such energy is released, as a rule, as a result of mining cryptocurrencies with an energy-consuming PoW algorithm, and the threat of prohibition of mining with such an algorithm hangs over them.

[AicecreaME]

This is one of the amazing ways to sustainability in the economy system and a means to profit maximization whereby waste energy end products serve as finished materials as such is used with energy trapped in drying wood and logs as this bring about with the story of how a Norwegian Bitcoin miner  make use of a renewable heat energy to dry wood and logs.

Making use of renewable energy as of recent has been consistently thing of consideration for bitcoin mining as such is in place with progress reports, while in this regard the heat energy emancipated from bitcoin mining activities is trapped, recycled and use to process the drying of logs at Kryptovault mining rig while advance energy usage on seaweed will later kick off this year in Norway.

This indeed is one of the ways bitcoin energy use can be made sustainable and recycled instead of constituting to global energy loss due to inefficiency from the bitcoin energy consumption statistics.

Development and innovative ideas are one of the strong pillars to using renewable energy in bitcoin mining to increase economy sustainability thereby reducing the effect of global energy loss due to inefficiency, bitcoin offers a solution to one of the major ecological world environmental challenges in this regard.

This is such a great innovation because as we all know, the carbon footprint from the generation of power source for a bitcoin to be mined contributes a lot to the pollution that out planet receives on a daily basis there is a mining activity. By inventing another way to harvest energy, the sustainability and efficiency of power will be of good benefit to the community and to the environment as well. Transitioning to green ways to lesser waste and power consumption is useful because it could be cost-effective to the production and it will not be harmful to the earth. There are several countries that have made the same initiative to lessen the power consumption which comes from non-renewable resources back then. I'm glad that there are more people willing to cooperate with the goal of being eco-friendly of mining activity. Switching to sustainable energy source will definitely be beneficial in the long-run given the immense and continuous conduction of bitcoin mining all over the world.

[fiulpro]

It is very important to know the fact that every place does have a very different geopolitical location which does give immense benefits for people to exploit them wisely. For example in the tropical countries one might very easily use the solar panels, run them with the mining software and then at the end of the day this might help the costs in the long term. But the initial investment is always something that might be difficult to do for most middle class people. At the same time there are certain countries where all the electronic energy is from the renewable sources entirely therefore it's more beneficial for people to use that sustainable resources there to do more.
Therefore it's important to research and know about these things first.

[Hydrogen]

Energy scavenging related to cryptocurrency mining definitely appears to be an emerging sector with potential.

https://en.wikipedia.org/wiki/Energy_harvesting

There are many homebrew DIY options people have created to maximize heat generated by mining rigs. Mass manufactured options could improve on this through better design, standardization and insulation.

EV markets could carry greater potential for energy scavenging in contrast to fossil fuels. Electric cars implement energy scavenging in the form of regenerative braking. There isn't a fossil fuel based equivalent for internal combustion engines. Electric trucks and motorcycles could definitely maximize efficiency through energy scavenging regenerative braking. It is possible that other benefits could eventually be reaped through the adoption of electric helicopters and aircraft.

Another approach to encourage renewable energy could be state regulators over time shifting fossil fuel subsidies towards power sources with smaller carbon footprints.