Cryptocurrencies mining is an ecological activity
Bitcoin mining is more ecological than any other large-scale industry worldwide
The crypto research center, CoinShares Research, published its second study detailing the efficiency and environmental impact of bitcoin miners. The study concludes that mining bitcoin (BTC) is more environmentally friendly than almost any other large-scale industry worldwide.
The researchers argue that most of the mining activity takes place in areas where large amounts of renewable energy are used. 60% of the miners are in China and 80% of them operate in Sichuan province.
The mining areas are chosen taking into account the low cost of high-speed Internet and low temperatures, which reduce the cost of cooling equipment.
According to the study, “the provinces that host the majority of cryptocurrency mining operations in China are also those that generate a greater proportion of renewable energy”.
Because of the drop in bitcoin prices, the average miner is probably working at a loss. However, mining is still profitable with the right combination of energy price, hardware cost and entry into the activity at the right time of the technological curve.
L.Sáenz
Source: Cointelegraph
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