Iceland consumes more electricity for the crypto-currency for its accommodation

We know that the crypto-currency is energy intensive and poses problems at the level of the environment. But it was not known that Iceland consumed more electrical energy for the mining of Bitcoin as it is for its slots.

Energy consumption excessive

This is a warning which has just been launched by the power company Hitaveita Sudurnesja in iceland. The representative of the company, Johannn Snorri Sigurbergsson, is out of the silence to pull the alarm. The man has explained that in 2018 the mining of Bitcoin is expected to double the energy consumption compared to last year. This consumption is expected to rise to 100 megawatts. What is more important than the amount of electricity used for 350 000 dwellings icelandic !

Pixabay – Lebone / power consumption related to the mining of crypto-currencies is disproportionate in Iceland.

It is important to know that Iceland is home to a lot of farms mining of digital currencies. These are warehouses that contain computers extremely powerful, creating the crypto-currency. If the country has been chosen at the start, it is simply because the temperatures are cool : thus, it is possible to cool naturally to the servers. This cooling is also free of charge.

And why not, the Bitcoin green ?

However, the country has accepted so many farms mining that the power consumption becomes difficult to control. Also, to preserve the environment and reduce the energy bill related to crypto-currencies, the country proposes the setting value of the Bitcoin green. It comes to the use of geothermal energy for the manufacture of the crypto-currency.

Pixabay – Sunny 611 / Iceland proposes the setting up of the Bitcoin green to lighten the energy bill related to Bitcoin.

It is a principle that works, but complicated to implement. However, there is an emergency, and Iceland seems determined to try everything to reduce the energy bill related to the mining of Bitcoin and other virtual currencies.

It is obvious that it is imperative to find a solution. According to forecasts, the consumption of electrical energy related to the crypto-currency will exceed that of every country in the world by 2020. Data are very worrying for the environment and for the future of the planet.

Source : CNews