Bitcoin miners use nuclear energy for sustainable energy

The main participants of Bitcoin (Bitcoin) With increasing pressure to go green, the mining industry has turned its attention to nuclear energy.

Harry Sudok, Vice President of GRIID, in’Bitcoin & Beyond Virtual summit’ November 10. GRIDD is an American company that purchases low-cost renewable energy to build vertically integrated Bitcoin mining facilities.

According to Sudock, past subsidy programs and discussions on renewable energy have focused on solar and wind energy, while ignoring the potential benefits of nuclear energy.

“The current growth rate is mainly concentrated on solar and wind energy, and this is the reality of the plans launched in the past 8-10 years. But what we want to see is the expansion of nuclear energy,” he said.

Samson Mow, Chief Strategy Officer, Blockstream A member of the group discussing the complexities of Bitcoin mining and energy spending with Sudock.

Mow mentioned the domineering role of “FUD” that tends to focus on Bitcoin mining. He said that this will not only lead to misunderstandings about Bitcoin mining, but also lead to misunderstandings about energy production.

He said that these misunderstandings “resulted in crazy headlines that Bitcoin will see a boiling ocean.”

Mow said: “Because Bitcoin mining only accounts for a small part of global energy consumption-like 1%, it is really often overlooked.” “If we are dirty, then everything is dirty, right? ?”

Mow is also a supporter of Bitcoin mining nuclear energy. “The problem is that we have regressed. In this society, we kind of reject nuclear energy and switch to other things such as wind and solar energy, which are more costly, more difficult to generate electricity, and do not always work,” Mo said .

related: The Climate Chain Alliance advocates the creation of a green economy at COP26

Last month, the Bitcoin Mining Council (BMC) surveyed about 33% of the current global Bitcoin network. BMC estimate Sustainable power portfolio for the global mining industry In the third quarter of this year, there was an increase of approximately 3% to 55.9%.

“Bitcoin miners will use the cheapest form of electricity they can find,” Amanda Fabiano said at the summit. Fabiano is the head of mining at Galaxy Digital, a digital asset investment management company, and a founding member of BMC.

“I think that capital with a focus on sustainable development will find a very good home in Bitcoin mining.”

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