Bitcoin mining for heat supply in Vancouver, Canada
Bitcoin mining for heat supply in Vancouver, Canada
north Vancouver, part of the Canadian district British Columbia, is on the way to becoming the first city to use Bitcoin mining to heat residential and business buildings. The initiative should be available according to a partnership between the cryptocurrency miner-Mint Green-and the Lonsdale Energy Corporation (LEC) from 2022.
BTC mining as an alternative heating option
The effects of Bitcoin mining on the environment have led to considerable controversy recently, especially after Elon Musk had made comments on this matter and his electric car giant Tesla therefore no longer received BTC payments. And while the primary cryptocurrency definitely has its advantages and many consider it a key player in the future financial network, their mining consumes a considerable amount of electricity.
This is how the Canadian city of North Vancouver with more than 50,000 inhabitants wants to use the energy that becomes free to heat the buildings of its residents. According to a current the latter claimed that his “digital boilers” would prevent 20,000 tons of greenhouse gases per MW compared to natural gas. Colin Sullivan - CEO of Mintgreen - commented:
"The complex problem of climate change requires innovative solutions, and LEC, together with the city of North Vancouver, shows an enormous leadership role in environmental responsibility."
Karsten Veng - Chief Executive Officer of the Lonsdale Energy Corporation - also hope that the collaboration would be an advantage for the green future of the city:
"The partnership with Mintgreen in this project is very exciting for LEC, since it is an innovative and cost -competitive project, and it increases the path of LEC to support the ambitious goals of the city to reduce greenhouse gases."
Can BTC mining become completely renewable?
According to Anthony Scaramucci - the founder and CEO of Skybridge - the answer is. In addition, he is could happen:
"We assume that Bitcoin mining will be completely renewable by the end of the decade. In the meantime, CO2 compensations are an effective way to make the Bitcoin network greener and to facilitate acceptance by ESG-oriented investors." Apart from his statement, Scaramucci also worked with the air conditioning technology company Moss Earth to buy Token with almost 40,000 tons of carbon or the transaction aimed to neutralize the estimated CO2 footprint of BTC, which generates from the multi-strategy funds from Skybridge and the First Trust Skybridge Bitcoin Fund was.
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