The Bitcoin Mining Industry Flocks To Countries With Sustainable Energy
The bitcoin mining industry has been around for a while, but it continues to grow. In fact, the amount of energy used to mine cryptocurrencies increased by 8% in 2017 alone.
Furthermore, this growth is expected to continue. Governments around the world plan to invest $7.2 billion in renewable energy to meet the needs of their people by 2040, according to a new report from the International Energy Agency (IEA).
The IEA predicts that these investments will increase demand for clean energy sources like solar and wind power, which could drive up prices for bitcoin miners looking for supplies. cheaper electricity.
Bitcoin mining requires a lot of electricity – about the same as Denmark uses every year – and many countries do not have enough sustainable energy sources to meet all of these needs on their own. This is why some governments are turning to hydroelectricity, geothermal energy and biomass for their future energy needs.
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