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
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