Hive Digital Technologies recently announced a milestone in its new Bitcoin mining operation in Paraguay, according to BNamericas.
By reaching a certain processing threshold, Hive's operations at Yguazú have reached their second phase ahead of schedule. The Paraguay facilities use 200 megawatts generated by Itaipu, the largest hydroelectric dam in the Western Hemisphere and the third-largest in the world. Itaipu generates 14,000 MW of power. Hive's Bitcoin farms in Canada and Sweden are also hydropowered.
Bitcoin mining requires a significant amount of energy to verify transactions and earn more of the virtual currency. The industry often uses dirty energy sources to meet these processing demands. As time goes on, processing needs and energy demands for Bitcoin mining will increase, making it untenable in the long run.
However, Hive is hoping to also use the infrastructure it's building to support artificial intelligence applications.
"HIVE is one of the few companies in the world operating with a dual business model, in Bitcoin mining and also AI Cloud computing powered by GPUs in our HPC data centers," President and CEO Aydin Kilic said.
AI has similarly high energy demands. Ensuring the demands are met using sustainable sources is important to keep pollution down and avoid the increase in destructive weather patterns caused by burning coal or gas. To that end, Microsoft and Google have invested in nuclear power to meet their AI ambitions.
Find the best HVAC solution to heat and cool your home more efficiently Mitsubishi Electric’s efficient heating and cooling HVAC solutions can help you stay comfortable no matter the weather or region. You can even regulate temperatures in each room with individually controlled all-electric heat pump systems. With an energy-efficient, all-climate system from Mitsubishi, you can reduce the amount of energy needed to heat and cool your home, receive up to $2,000 in tax credits, and get peace of mind knowing you’re choosing rigorously tested, high-quality products. |
Luckily for the advancement of cryptocurrency, other mines have started to rely on renewable energy. Kyrgyzstan's grid is primarily hydropowered and has proved to be suitable for some crypto mines, as have Zambia's and Bhutan's.
Some jurisdictions, such as British Columbia and Norway, have banned Bitcoin mining despite having abundant hydroelectricity. Plus, hydroelectricity isn't without its environmental costs. Nevertheless, Bitcoin's drift toward clean energy has been increasing.
Hive remains proud of the progress it has made at the Yguazú site.
"While our 200 MW Yguazú site is the largest Bitcoin mining facility HIVE has constructed, it has done so in record time," COO Luke Rossy said. "I am incredibly proud of our team, as we developed mastery of the hydro ASIC cooling infrastructure, to optimize operational efficiency in the local climate, using the dry-cooler technology."
TCD Picks » Upway Spotlight
💡Upway makes it easy to find discounts of up to 60% on premium e-bike brands
|
What do you think the future of cryptocurrency is?
Click your choice to see results and speak your mind. |
It is the future of currency 😎 
Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Cool Picks
