Bitcoin mining with sustainable energy, multi-million dollar income possible
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NEW YORK: Millions of dollars can be earned by mining Bitcoin with the help of surplus electricity from solar and wind turbine installations, a new study has suggested.
According to scientists at Cornell University in the US, such mining operations can reduce the negative impact of cryptocurrency on the environment and provide revenue that can be reinvested in future sustainable energy projects.
Fengchi Yu, a professor of energy systems at the university, said that the profitability of mining systems depends on the stable availability of energy. Therefore, location wise placement of mining farm is important to increase productivity.
According to research published in the journal ACS Sustainable Chemistry and Engineering, the most profitable state for crypto mining operations in the US is Texas, where 32 proposed sustainable energy projects combined to generate $47 million in profits. Have power. While other talented states include California, Colorado, Illinois, Iowa, Nevada and Virginia.
According to Apuru Lal, a doctoral student at Cornell University, these projects could be encouraged in the form of new policies that would give economic benefits to those who mine bitcoin and other cryptocurrencies with clean energy. will
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