The British company 4New has raised funds for an initiative to use waste for cryptocurrency mining. The company received an investment of $30 million from Mirach Capital Group LCC.
4New has introduced the use of anaerobic digestion at two of its plants to turn waste into electricity - something that has become very popular in England. Now the company wants to use the same technology for mining cryptocurrencies such as Bitcoin, Ethereum, Litecoin.
As 4New notes, energy costs for mining cryptocurrencies are growing exponentially. Reports from the company's recent research stated that by the end of the first quarter of 2018, a single Bitcoin transaction consumed more energy than 30.5 American homes, up 500% from 2017.
The report also stated: “Our free energy is consumed by an on-site mining rig. This allows us to provide a viable and scalable solution to facilitate adoption cryptocurrencies.”
Recently, an Australian company medical marijuana announced that it is going to build greenhouses to supply both marijuana cultivation and mining operations.
According to brand-e.biz
You May Also Like
Can cryptocurrency leave Abkhazia without electricity in winter?
Ongoing cryptocurrency mining is threatening the already precarious power supply in the tiny, unrecognized republic of Abkhazia, prompting officials to call for measures to regulate the cryptocurrency sector to prevent power outages this winter.
Georgian crypto cuisine. Choosing dishes
It's no secret that Georgia is one of the most loyal countries in the post-Soviet space, where it is not only cozy, but also profitable to do business. This became possible literally over the last 10 years thanks to the colossal reform efforts of the country’s successive leaders, each of whom sought to make it better and richer. Let’s try to figure out how exactly things are going with the cryptocurrency business here in our material today.
