The cryptocurrency bitcoin has become notorious for its ravenous appetite for electricity — and its presumed massive carbon footprint. Even though bitcoin solely exists in digital zeroes and ones, the computers that run the network are huge energy hogs. According to the bitcoin energy consumption tracker at Digiconomist, bitcoin currently consumes 66.7 terawatt-hours per year. That’s comparable to the total energy consumption of the Czech Republic, a country of 10.6 million people. Bitcoin’s energy appetite is fused into its foundations. Since there is no central bank or authority governing the currency, the bitcoin network regulates itself through a distributed accounting system known as blockchain. In blockchain, every bitcoin transaction is tracked in a public ledger spread across thousands of computers. These transactions are grouped into blocks. However, it’s tedious to reconcile and verify every single instance of digital currency changing hands, and verifying a block requires finding a cryptographic key, an increasingly difficult computing problem, which makes it the culprit of the high energy consumption. Stepping up to the plate is BTC Mine, an Australian company that is leveraging cutting-edge technologies to ensure that they fix the gaps that exist within Australia’s grid issues. To go in detail, BTC Mine has a mining operation that utilizes renewable energy to mine bitcoins at a cost-effective rate, something that competitors can’t beat.
Andrew Parry has been growing BTC Mine to the point where it is now becoming the bar for other companies, and with Bitcoin and other cryptocurrencies booming in price, it is sure to stay and grow at an exponential rate. BTC was created out of thirty years of experience in electrical systems installation and renewable experience. BTC mine is the product of Andrew Parry, a seasoned executive who was the former CEO of OnSolar. He puts deep thought into bringing together the best of Australia’s resources. Additionally, the computers powered by BTC Mine Australia represent the future of sustainability and security within the bitcoin network. They are locally operated with multiple sites in Australia. With the exponential growth that Bitcoin has seen, this is a great time to capitalize on the opportunities Bitcoin mining can generate.
His leadership team is top-notch, bringing in seasoned executives who believe that technology will play a large role in reducing Australia’s emissions and proof of work protocols will continue to support and secure grid security. To stay up to date with BTC Mine and any news updates, visit their website.
BTC Mine Australia owns and operates real assets, including data center infrastructure, powered by renewable energy to mine Bitcoin sustainably. Using computers powered by renewable Solar energy, we represent the future of sustainability and security in the global bitcoin network.
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