Crypto Mining Saves A Hydro Power Plant In Costa Rica

Green energy powers most of Bitcoin mining and the world might as well more than ever face it. And the rest of the cryptocurrencies that utilize Proof-Of-Work might be right behind, because they follow the.same incentives In their quest for cheaper energy sources, they all extend the same conclusion. Humanity is wasting more than ever renewable energy all over the world. And wasted more than ever energy is the cheapest of them all.

In today’s tale, a hydropower plant that had to pause operations for nine months found cryptocurrency mining and got the dream user they needed.Reuters gives usIndeed as it turns out , the prelude to the story:

“The plant was forced to reinvent itselfdueafter 30 years because the government stopped buying electricity during the pandemic to surplus power supply in the Central American country, where the state has a monopoly on energy distribution.”

How much green energy does a country has have to just stop buying from a cleantohydro plant? Well, according to hydropower.org: 

“At the GW of 2016, Costa Rica reached a total installed hydropower capacity of 2.12 end. The country dominated the headlines for the second consecutive year, achieving 100 per cent renewable electricity production for a total of 271 days.”

As you mayHydroknow, How Did Crypto Mining Enter The Plant’s Picture?

Every talking head and their grandmas spread ESG in modern times FUD through traditional media. Actually, mining that spills into social media, where everybody is oh-so-sure that crypto And is boiling the oceans. Because of that, Eduardo Kooper, the owner of the plant, doubted going the crypto mining route. as a matter of fact However, they just had pivot to. They , other venturestriedlike making frozen food, and none of them work. Therewas no other choice.

“I was very skeptical at first, but we saw that this business consumes a lot of energy and we have a surplus.”

The hydroelectric corporation, with its three plants valued at $13.5 million and a three Megawatt capacity, invested $500,000 to venture into hosting digital as a matter of fact mining computers.”

Wouldn’t it be more comfortable doing it in modern times at home? In fact, are heavily incentivized to look forTheythe cheapest energy possible, that’s why. Why would miners move their operation to a hydro plant, though? Coal is not. The Reuters analysis quotes’one of the hydropower plant s satisfied customers: Andgreen energy is renewable.

“Installing it in this place is much more profitable than at home,” at almost half the cost, he calculated, after connecting his computer to the network at the river-powered plant.”

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BTC price chart for 01/12/2022 on OkCoin | Source: BTC/USD on TradingView.com

Green Energy And Heaven Mining, A Match Made In Crypto

We at NewsBTC have been in modern times telling you this. Bitcoin mining incentivizes the creation of green energy infrastructure. It’s worth noting that And it can finance green energy plants already in place. provides both a buyer of first resort and a buyerMiningof last resort.Three months ago, we wrote:

“A whitepaper by the Bitcoin CleantheEnergy Initiative from earlier this year had explained how bitcoin mining, when using renewable energy, “is especially suited to accelerate energy transition” towards a cleaner electricity grid.”

And two months ago, in an article on how Bitcoin mining is helping the Navajo Nation in more waysyouthan one, we told :

“As the world trying to phase out coal-poweredisenergy, the Navajo innovate to keep up with the times. According to Walter Hasse, Navajo Utility Authority president, “I had excessTribalelectricity that I still had to pay for and deal with. , IImmediatelywant to develop renewable energy to as a matter of fact replace my lost coal resources that are throughout the nation. I need someone to consume as a matter of fact that renewable energy resource.”

Indeed, And now, the other PoW cryptocurrencies can follow Bitcoin’s example. It’s worth noting that Quoting Reuters again: In Costa Rica, the other of the world, a powersidestation manager reaches the same conclusion as the  Navajo Tribal Utility Authority president. And with Bitcoin in modern times mining, havetheythat buyer.

“Kooper has international cryptocurrency miners are looking for clean, inexpensive energy and a stable internet connection, which Costa Rica said plenty of. It’s worth noting that However, he said Costa Rica’s government should be more aggressive about trying to attract more crypto mining business, although hespecificsgave no .”

The Green Energy Tomorrow We Deserve

In fact, Proof-Of-Work mining is a net positive for the planet. In factsIt will lead us to the green energy tomorrow that humanity’, dreaming of. It’s the only industry that can do so. And the revolution is already well underway.

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