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Monday, July 19, 2021

The nuclear-powered Ohio bitcoin mine is 100% carbon-free

The nuclear-powered Ohio bitcoin mine is 100% carbon-free

SD24 News Network - The nuclear-powered Ohio bitcoin mine is 100% carbon-free

Independent power generator Energy Harbor has announced that it will provide clean nuclear power for infrastructure to Standard Power's new Bitcoin mining facility in Ohio through a five-year partnership. Energy Harbor plans to power the mining farm by December 2021.

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“We are grateful that Standard Power has given us the opportunity to serve them,” Energy Harbor President and CEO John Judge said in a statement. "We & # 39; re excited to partner with customers focused on minimizing their impact on the environment while driving the future of new clean energy in our local Ohio economy."

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The partnership will allow Bitcoin miners and other data processing companies to turn Standard Power, the hosting provider, into an abandoned paper mill in Cochrane, Ohio, into a bitcoin mining facility. In addition, the company said it would provide reliability and stability to the transmission grid by suspending operations during periods of energy crisis.

"We chose Ohio because of the low power cost and the availability of carbon-free energy sources," Standard Power CEO Maxim Serezin said in a statement. "By partnering with Energy Harbor, we have actively developed our hosting capabilities to ensure that 100% of the electricity associated with this facility is carbon free."

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The power consumption of bitcoin has recently become a topic of discussion, leading to a wave of such “green” partnerships over the past few months, with the common misconception that it is bad for the planet. Although the carbon-free nature of the system is really important, it is second only to clear free-market performances.

BTC miners, like most types of businesses, strive to maximize their profits and operational efficiency. By navigating naturally and freely towards the cheapest energy sources available, miners can ensure lower operating costs, increased longevity and greater security for the bitcoin network.

Therefore, while the economic incentives are not specific, gears have the potential to affect the energy consumption practices of the entire industry, including the bitcoin mining industry. However, Bitcoin can help maximize their operating profits for sectors other than pure energy consumption in particular. In addition, Bitcoin helps fuel producers harness the trapped energy and power polluted waste into BTC mining.

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