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Half of Iceland's electricity is already from bitcoin mining so at the very least 1/12 of total bitcoin mining is from geothermal. The first youtube hit for bit
by JoshTko 6y ago
Half of Iceland's electricity is already from bitcoin mining so at the very least 1/12 of total bitcoin mining is from geothermal. The first youtube hit for bitcoin mine gives another operation in the US using hydro electricity. Any operations using costly electricity will quickly be put out of business of more efficient operations as mining hardware prices matches demand.
- sollewitt 6y agoBut we could be using that _to be becoming carbon neutral_
- lumost 6y agoOn the flip side, the extra grid demand for renewable energy in optimal locations may accelerate renewable adoption. Grids and infrastructure are not free.
- davidgerard 6y agoThat's like saying that extra smoking accelerates cancer research. Yes, or you could not do the foolish thing.
- JoshTko 6y agoAgree. Just am pointing out that the energy consumption of bitcoin seems to be vastly overstated, possibly by an order of magnitude.