Reason why a town in canada suspended mining activities

[Lens1000]

Messena, a small town close to the border of Canada has temporarily suspended cryptocurrency mining activities in its province. The moratorium is expected to last for 90days. The suspension became important when the regulators saw the influx of trailers of bitcoin mining computers into the town. They never wanted the miners litter their environment, reason for the temporary shutdown.

Miners are attracted to the city because of the cheap electricity in Messena. Using a cheap electricity is a plus for the bitcoin miners.

Despite the drop in the hashrate of the bitcoin, the miners are making move to expand their horizon to countries with cheap electricity.

What's your thoughts about this?

 

[Alexandoy]

Until now I am still confused and not believing that crypto coin mining consumes do much electricity. If the computer is the reason then I don't think the computer will consume so much electricity than when it used in the normal way. There is a wattage or limits to the electric consumption of the computer just like any other appliances.

 

[Mika]

One of the major issues related to bitcoin mining is the environmental impact. Nobody has done enough research on this topic but a lot of agree that bitcoin mining operations consume a lot of electricity, which could be otherwise used to power a lot of homes in many African and Asian countries.

 

[Ahmedo24]

I think with the recent update on renewable source of energy to mine Bitcoin I don't think there should be more so much issues with mining bitcoin no the use of electricity source might makes it more faster which could be a reason why they are rushing into this region where electricity is cheap.

 

[Lens1000]

One of the major issues related to bitcoin mining is the environmental impact. Nobody has done enough research on this topic but a lot of agree that bitcoin mining operations consume a lot of electricity, which could be otherwise used to power a lot of homes in many African and Asian countries.

It will be a welcome idea if you could delve into it. We are ready to learn more as always. Since no one as made a satisfactory thread on the said topic, it will be a very important idea if you could create one. You and I know that the use of carbon energy for mining isn't environmental friendly, but because it's a cheap source, miners tend to use it to power their mining rig.

 

[Lens1000]

I think with the recent update on renewable source of energy to mine Bitcoin I don't think there should be more so much issues with mining bitcoin no the use of electricity source might makes it more faster which could be a reason why they are rushing into this region where electricity is cheap.

Your are absolutely right. Elon Musk open doors to the use of a green energy to power the bitcoin mining rig through his tweets. Many countries have started adopting this medium. Although, it may not be as efficient as the carbon powered mining rig but it is kind to mankind. This is what caused a soar in the price of bitcoin.

 

[Ahmedo24]

No doubt if companies that are into mining continue to make research they improve on the use of green energy source to mine bitcoin and other cryptocurrencies which will make our environment more cleaner and safer .I Know in the near future people will appreciate ELON MUSK for his decision few months back despite the negative effect in the market.

 

[Sherman198]

The influx movements of these miners from some countries to the other countries, may be a wake up call for some of these countries governments to further lay ban on crypto mining. Some of these miners should go to another country that are not popular but has good electricity, instead of rushing to Canada.