An hydro-power plant in the US diversify to bitcoin mining

[Lens1000]

Institutions, individuals, and countries have started tapping into the profitability of the bitcoin mining. The crackdown in China as paved the way for crypto mining activities in institutions, countries and individuals.

As a result of the huge profit made from mining, an hydro power plant in the US as make
a move to use its generated power in mining bitcoin. The management of the power plant discovered that they will make three times the amount of money they made distributing the electricity to the populace

I want to remind us on the issues of electricity consumption in bitcoin mining raised by the SpaceX billionaire Elon Musk. He reiterated that bitcoin mining is dangerous to humanity. The energy usage is not environmental friendly and contribute largely to climate change. This results in the adoption of green energy to power bitcoin mining rig

Hydro-power plant is a delivers a renewable energy and that's the major reason why one of the oldest hydro-electric plant in the US makes a move to diversify to mining bitcoin

How do you react to this?

 

[Josemendez]

It is not surprising that companies are going into bitcoin mining these days because they have seen the potentials in bitcoin mining and are ready to capitalize on it.
Secondly , the remaining number if bitcoin unmined us quite small and thus when all the bitcoin has been mined , it will really be very scarce thus this is why they all want to mine.

 

[Deleted member 28127]

If the use of electricity is damaging to the economy then I think as if bitcoin mining with electricity is damaging for health and nature even new generation of cars that will consume electricity instead of essence or gaz will be damaging to the health then electricity should be replaced by another innovation that respects nature, this is up to ecologists to find a new innovation for next century.

 

[Chibson]

This is a very good development and I think it will probably increase the price of Bitcoin very soon. The kind of threat Bitcoin mining imposed to the environment has really made the lot of people to pull out of it as a result of Elon musk's tweet and other factors. I really want to see the price of Bitcoin going up once again.

 

[Sherman198]

It is not surprising that companies are going into bitcoin mining these days because they have seen the potentials in bitcoin mining and are ready to capitalize on it.
Secondly , the remaining number if bitcoin unmined us quite small and thus when all the bitcoin has been mined , it will really be very scarce thus this is why they all want to mine.

You just said the truth! It's alarming the way different companies are coming into mining this period. I believe it's because it's almost easier to mine now than before with all these newly discovered renewable energy. With all these minings, in the next few years we may be short of Bitcoin. We will not have enough Bitcoin in circulations as we have now, it may as well triple it's worth because of scarcity.

 

[Lens1000]

It is not surprising that companies are going into bitcoin mining these days because they have seen the potentials in bitcoin mining and are ready to capitalize on it.
Secondly , the remaining number if bitcoin unmined us quite small and thus when all the bitcoin has been mined , it will really be very scarce thus this is why they all want to mine.

You are absolutely right. Once it reach the threshold, the mining network will be cut off. But the opportunities does not stop there . There are many cryptocurrency to mine. The business will not stop any time soon. It's a great opportunity to tap into the offer. They know that there is lots of profit in mining

 

[Lens1000]

If the use of electricity is damaging to the economy then I think as if bitcoin mining with electricity is damaging for health and nature even new generation of cars that will consume electricity instead of essence or gaz will be damaging to the health then electricity should be replaced by another innovation that respects nature, this is up to ecologists to find a new innovation for next century.

The energy consumed by mining is very high and it raises concerns in the society. It was marked dangerous and unhealthy for the environment. This gives rise to the use of an alternative electrical energy like hydro power plants. It's plant uses a energy from a clean source which meets environmental standards

 

[Josemendez]

You are absolutely right. Once it reach the threshold, the mining network will be cut off. But the opportunities does not stop there . There are many cryptocurrency to mine. The business will not stop any time soon. It's a great opportunity to tap into the offer. They know that there is lots of profit in mining

Ofcourse there are even presently many other coins to mine . My emphasis is solely on bitcoin . When the total supply is mined , the cryptocurrency will be very scarce and thus this will result in an increase in the price of the coin and will even be difficult for many people to afford it. Presence of Other coins cannot stop the progress of bitcoin at this point in time .