Article by Nigeria Today
Over the past few years, some bitcoin enthusiasts have found ways to use renewable energy sources such as solar power to mitigate electrical costs associated with mining the decentralized cryptocurrency.
It’s a well-known fact that bitcoin mining consumes energy. Many people don’t realize the global cost to run the Bitcoin network, with electricity costs at millions of dollars every year. Some believe this has led to a concentration of miners in countries where electricity is significantly cheaper, like in China. It is said that mining has also resulted in larger facilities leading the race to mine bitcoins, while smaller home-based miners are typically pushed out of the competition. However, some individuals and pools have found ways to compete by offsetting the cost of electricity by utilizing renewable energy sources.
Solar Energy and Bitcoin Mining
There have been a bunch of miners over the years who have harnessed energy from the sun to fuel their mining operations. Solar energy is a technique that uses radiant light to create electrical power, and has been used by humans powering devices since around 1880. Many people have mined bitcoin using the sun’s energy, as discussions of miners using solar power to mine can be found online dating back to 2012, and every year after.
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