The French startup WiseElement is about to launch a boiler with a built-in computer that uses waste heat from cryptocurrency mining to heat domestic water. He can pay well for his pioneering work – the mining boiler wants to sell for about a quarter of a million crowns. But the Czechs went even further, in South Moravia they built a house heated by waste heat from virtual coin mining.
The attempt to use the heat energy lost into space during mining is logical. Bitcoin is, by its nature, an energy cannibal, consuming about twice as much electricity each year as the entire Czech Republic. That’s according to an analysis by Cambridge University.
What can bitcoin mining do? And where can energy be taken for mining? See the photo gallery:
The energy consumed by bitcoin is also comparable to the annual consumption of all electrical appliances in the United States that are plugged in but inactive. Leaked energy in the case of cryptocurrency is also a safety fuse. It means that it is not worthwhile for anyone to try to cheat transactions and falsify a decentralized ledger – a blockchain.
There is great debate about the “green” origin of bitcoin electricity. Tesla boss Elon Musk reportedly suspended the payment of bitcoin payments because the cryptocurrency booms led, among other things, to the re-commissioning of coal-fired power plants for mining.
However, according to the Cambridge study, about three-quarters of miners use renewable energy at least to some extent. Musk is pushing not only for this share to continue to grow, but for miners to publish audited reports proving the use of “green” energy.
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