As we all know, bitcoin (BTC) mining uses a lot of electricity. While most miners still make profits with their mining installations, others have found innovative and interesting ways to leverage one of the byproducts of cryptocurrency mining: heat. But let us start with a cryptocurrency mining project that uses the sun to earn money.
Turning photons into bitcoin
You will be able to find most bitcoin miners in areas where there is an abundance of cheap energy. These are mostly mountainous areas where rivers and dams produce “free” electricity, which is why the electricity in these regions is very cheap. It is therefore no surprise that the Chinese province of Sichuan, that has a lot of rivers, houses 40% of the total mining activity
There is, however, another source that provides us with “free” energy: the big burning ball in the sky that we call the sun. The light and warmth that hits earth every year is enough to provide 20,000 times the power used by the entire human race. Solar panels are therefore expected to provide us with most of our electricity needs in the future.
Bitcoin mining might be able to profit from solar panels. As you can read in one of our earlier blog posts, “Green Energy Gaining More Ground In Bitcoin (BTC) Mining”, the American mining company Plouton Mining is planning to harness solar power. The company plans to build a solar plant that will produce 10 to 13 megawatts of power, all to mine bitcoin and other cryptocurrencies.
Heating up your house while earning BTC
As bitcoin mining consumes a lot of energy, a byproduct is heat. Mining farms and hobby miners use high-tech cooling solutions to make sure their rigs stay nice and cool in order to keep the efficiency of their machines maximized. In Irkutsk, Russia, a duo decided to not fight the heat but use it!
Due to the cheap electricity in the region bitcoin mining is very popular. The region is also very cold. Ilya Frolov and Dmitry Tolmachyov therefore decided to hook up their mining operation to their underfloor heating system. While their floor and house stay nice and warm, their mining rigs earn them money!
Growing plants while mining bitcoin
When we travel from the cold region of Irkutsk to another cold region, Manitoba, Canada, we find another interesting and innovative solution that leverages the heat that is produced by cryptocurrency mining. Here Bruce Hardy runs a mining operation that keeps plants warm during the cold winters of Canada. Where plants normally wouldn’t be able to grow during the winter, his mining setup keeps the plants warm which helps them to grow. And a nice byproduct of his operation is bitcoin!