Take that energy FUD-ers! A hydropowered Norwegian Bitcoin miner uses waste heat to help out local businesses.
) miner, Kryptovault, using regenerative hydropower to attempt to solve valid Bitcoin blocks was not enough.
Kjetil Hove Pettersen, CEO of Kryptovault, told Cointelegraph that Norway is an “ideal location for mining” and that alongside the log-drying operation, seaweed drying operations will kick off in the first half of 2022. “This translates to very low energy prices and we can ‘rescue’ that trapped energy rather than letting it go to waste.”in 2018 has not affected the Scandinavian country’s status as a sought-after destination to mine cryptocurrency.
Moreover, the secondary benefits of Bitcoin mining branch out to more than the environment. Over time, Hønefoss grid customers are actually better off due to theGrid fees–like trees–are hacked down year after year because the local area’s total energy consumption increases. The more energy is used, the more prices come down over the long term. The company estimates that circa 2 million Euros is saved due to “Kryptovault’s existence in our grid.
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