US company devises method to use coal waste to power crypto

📆 3/21/2022 10:54 PM
📰 ChannelNewsAsia

⏱ Reading Time:
22 sec. here
2 min. at publisher
📊 Quality Score:
News: 12%
Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

KENNERDELL, Pa. : The vast amounts of electricity needed to mine bitcoin has ignited a debate about whether the energy behind the operation is worth the potential environmental costs.But one company in western Pennsylvania believes that they have found a way to put crypto mining to work to clean up their

KENNERDELL, Pa. : The vast amounts of electricity needed to mine bitcoin has ignited a debate about whether the energy behind the operation is worth the potential environmental costs.

Stronghold Digital Mining uses waste left behind by decades-old coal power plants to generate electricity that powers hundreds of supercomputers working to mine bitcoin. "The bitcoin mining network itself is the largest decentralized computer network in the world, and it's power hungry, so co-locating bitcoin mining and a power plant makes a lot of sense," said Greg Beard, chief executive officer of Stronghold.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US charges former Apple buyer with defrauding more than US$10 million from companyUS prosecutors have charged a former Apple Inc employee with defrauding the iPhone maker out of more than US$10 million in a series of schemes. Dhirendra Prasad faces five criminal counts after exploiting his \u0022position of trust\u0022 as a buyer in Apple\u0027s global service supply chain to defraud the company,
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »