Faced with numerous criticisms of cryptocurrency mining for its energy consumption, the Canadian city of North Vacuver took advantage of the heat generated to be able to provide heating to its buildings. The result is such that soon almost the entire city of 53,000 inhabitants will be heated by the heat of thermal energy released by mining cryptocurrencies like Bitcoin.
North Vancouver announced Thursday that it will become the first city in the world to be almost completely heated by bitcoin mining. It’s their innovative way of tackling climate change by simultaneously mining cryptocurrencies and thermal energy for public use.
Cryptocurrencies Can Heat a City
The city’s energy services company is teaming up with MintGreen, a Canadian clean-tech cryptocurrency miner. This union has created clean, renewable energy for the city by mining Bitcoin and using its proprietary ‘digital boilers’, which capture over 96% of electricity and heat and convert them into thermal energy.
The boilers will mine cryptocurrency at full capacity year round, providing heat to 100 residential and commercial buildings in North Vancouver. In its rationale for investing in new heating technology, the city cited the United Nations climate report earlier this year warning of the impacts of climate change.
North Vancouver voted in 2019 to increase its greenhouse gas reduction targets to reach net zero emissions by 2050, while Canada has proposed a carbon tax of $ 170 per tonne that will come into effect in 2029. This decision would increase the cost of natural gas, which was the perfect time to get thermal energy in another way. The city said in a statement that it hopes the pilot program within its jurisdiction could be the launching pad for future bitcoin power generation opportunities in other parts of Canada.
Source: Yahoo
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