In the world of Bitcoin, there are two ways to make money: mining and investing. Both of these options take knowledge, skill, and timing to pull-off maximum gains, but only one is likely to achieve long-term success.
For those of you reading this article that are unfamiliar with the world of Bitcoin investing and mining, long story short, mining bitcoin involves a highly specialized computer that processes Bitcoin transactions on the block chain, sometimes referred to as the mining chain, where you are then awarded with fragments of Bitcoin for your computer’s hard work. Investing in Bitcoin is relatable to buying and selling other fiat currencies, but Bitcoin is wildly volatile in comparison.
According to Nic Campesi, founder and owner of Liquihash, bitcoin miners are the ones that are geared for success in the long-run, as it utilizes dollar-cost averaging and can be greatly lucrative when powered by excess energy sources, such as a hydro plant that sometimes produces too much power for the grid and must normally shut off. But in this situation, the hydro plant can stay activated and simply power a bitcoin mine until it becomes profitable to start selling energy to the grid, again.
It’s a simple recipe that allows energy companies to create a second source of revenue and to quit wasting good energy at the same time. Just imagine how much Bitcoin can be mined in a few hours when your bitcoin mine is powered by a hydro plant? Now imagine that opportunity being wasted when the hydro plant simply turns off until it can sell electricity again.
This opportunity is not only for hydro plants, but for any type of excess energy source. Gas wells, wind turbines, solar panels, all can sometimes produce too much power that is normally wasted. Even methane from landfills can be properly utilized to power a bitcoin mine, which also eliminates that harmful compound from damaging the ozone layer. This really is a wonderful opportunity that energy companies should consider.
Liquihash is a company that creates and manages bitcoin mines that are powered by excess energy sources. If you own or run an energy source that sometimes produces too much energy that goes to waste, talk to Liquihash today to start your company’s path to profitability and efficiency.
The best decision is to allow your energy source to power a bitcoin mine that will be awarded with valuable Bitcoin fragments through processing Bitcoin transactions on the block chain (AKA, the mining chain). It makes sense to create a secondary revenue source that also saves good energy from going to waste.