Faced with numerous criticisms of cryptocurrency mining for its energy consumption, the Canadian city of North Vacuver has taken advantage of the heat generated to be able to offer heating to its buildings. The result is such that soon almost the entire city of 53.000 inhabitants will be heated from the heat of thermal energy given off by mining cryptocurrencies such as Bitcoin.
North Vancouver announced Thursday that it would become the first city in the world to be heated almost entirely by bitcoin mining. It's their innovative way of tackling climate change by mining cryptocurrencies and thermal energy for public use at the same time.
Cryptocurrencies can heat up a city
The city’s energy utility is partnering with MintGreen, a Canadian cleantech cryptocurrency miner. The partnership has created clean, renewable energy for the city by mining Bitcoin and using its proprietary “Digital Boilers,” which recover over 96% of electricity and heat and convert it into thermal energy.
The boilers will mine cryptocurrency at full capacity year-round and thus deliver heat to 100 residential and commercial buildings in North Vancouver. In its justification for investing in the new heating technology, the city cited the United Nations Climate Report from earlier this year warning of the impacts of climate change.
North Vancouver voted in 2019 to increase its greenhouse gas reduction targets to achieve net zero emissions by 2050, while Canada proposed a carbon tax of $ 170 per ton that will take effect in 2029. This decision would make increased the cost of natural gas, which was the ideal 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
