Bitcoin mining is forcing me to go solar power. I just installed solar panels to run my miners during the day. Not only does my house get heated but I cut the mining cost by 75%. Why? It’s not just the cheapest form of energy, but I get rid of the grid-transfer cost and tax (=75%!)

Bitcoin mining is forcing me to go solar power. I just installed solar panels to run my miners during the day. Not only does my house get heated but I cut the mining cost by 75%. Why? It's not just the cheapest form of energy, but I get rid of the grid-transfer cost and tax (=75%!) submitted by /u/candese
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Bitcoin – The Currency of the Internet

Crypto Winter Freezes New York Bitcoin Mining Industry

A unique characteristic of many upstate New York cities is their low energy rates. Hydroelectric dams along the St. Lawrence river give residents electricity so cheap that many even heat their homes with it. The region made perfect sense for crypto miners during the “gold rush” days of 2017 and early 2018, and the increased demand from the Bitcoin mining industry created the problem of increased electricity demand driving up the costs. Mining Premiums & Government Action + Crypto Winter = Toxic Environment for Bitcoin Miners Some municipalities like Lake Placid put a ban in place, learning from the experience

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Bitcoin Mining Giant Bitmain Launches New Chip, Hints at New Miners

Bitmain has announced the BM1397, a new, more efficient cryptocurrency mining chip. The chip sports a 28% power efficiency improvement over its predecessor. The news brought with a mention of upcoming S17 and T17 models, about which very little other information is available. According to a press release, the chip uses just 30 joules per terrahash. This means that as much as 33 terrahash can be powered by just 1 kilowatt of power. If an existing mining outfit were to simply replace its existing hashpower with the newer models (once they’re available), the power savings would be immediate. However, the

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