When Bitcoin launched in 2009 the first mining was done by CPUs. Satoshi’s idea of “one CPU – one vote” was very realistic as there were only CPU miners (software) available at the time. Eventually, Bitcoin mining evolved and miners started to discover using other power sources to mine Bitcoin. Today, there is a game theory playing out in real-time. The YPF SA., Argentina’s State-Owned Energy Company moving toward Bitcoin Mining. This recent event is a big move in the bitcoin mining industry. It is predicted in the near future that other states and countries will be adapting to capture waste energy.
Have you ever wondered why Bitcoin miners have flocked to Texas state? It is because of the current “goldilocks” situation for bitcoin mining. One of the reasons why Texas state is a good place for bitcoin mining is; the state’s energy infrastructure allows miners to access cheap power from its deregulated power market. Also, its growing energy source mix from renewables, particularly wind energy, and lastly, because of Texas’s supportive policy and backing by policymakers. Other states are going into bitcoin mining now but, these particular reasons made Texas the bitcoin leader in this present time.
Sustainable power sources like Hydropower Energy, Solar Energy, Wind Energy, and Geothermal Energy, these sources will be available as long as the earth sustains. Efficient use of energy is another advantage of renewable energy as it saves the climate no pollution or harmful gasses are emitted which leads to clean crypto mining without damaging the environment. Bitcoin mining has become green.
So, don’t waste a good energy source, utilize it. If you have access to an excess energy source such as a natural gas, well, or even a hydro plant, don’t waste it. Chat with us today to start turning that excess energy into bitcoin.