Cryptocurrency Bitcoins Mining through Solar Energy
In a new study, it has been revealed that by mining
Bitcoin using the additional electricity generated from solar energy and wind
installations, one can potentially earn millions of dollars. According to
scientists at America’s Cornell University, implementing such mining operations
can provide income while mitigating the negative effects on the environment
caused by cryptocurrency mining, contributing to future sustainable energy
projects.
Professor Fengchi Yu, an energy systems expert at the
university, emphasized that the viability of mining systems depends on the
stable availability of energy. Therefore, determining the location of mining
farms is crucial for increasing production. According to research published in
the Journal of ACS Sustainable Chemistry & Engineering, Texas is the most
lucrative state for cryptocurrency mining operations, where 32 stable energy
projects can collectively earn around $47 million.
On the
other hand, other environmentally friendly states include California, Colorado,
Illinois, Iowa, Nevada, and Virginia. According to doctoral student Apoorva Lal
from Cornell University, these projects can be incentivized through new
policies, where anyone mining Bitcoin and other cryptocurrencies using clean
energy will be economically rewarded.
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