Mining for cryptocurrency has grown in popularity over the last decade, with Bitcoin being the most well-known digital money. However, mining cryptocurrency consumes a massive quantity of energy, raising concerns about its environmental effect. To address this problem, some mining companies are looking into alternative energy sources like biogas to power their operations. An Irish farmer uses biogas for Bitcoin mining making the process of bitcoin mining green and clean.
Biogas is a renewable energy source created by the decomposition of organic materials such as agricultural refuse, sewage, and landfill waste. This process produces a gas mixture, mainly methane and carbon dioxide, which can be captured and used as fuel. Biogas is regarded as a sustainable energy source because it lowers greenhouse gas emissions by preventing the release of methane, a powerful greenhouse gas, into the atmosphere.
Biogas for Bitcoin mining
Tom Campbell, an Irish farmer, has found a novel way to use the abundant energy produced by his dairy farm for and uses Biogas for Bitcoin mining. The dairy farmer in County Armagh, Northern Ireland, generates sustainable energy through anaerobic digestion.
In the lack of oxygen, anaerobic digestion breaks down organic matter into biogas and nutrient-rich digestate. Biogas produced by anaerobic digestion is burned to generate steam, which powers a turbine and generates energy.
Tom Campbell uses the majority of the energy generated to power his farm. In the event that there is excess energy that cannot be transmitted to the grid, the farmer will use it to mine Bitcoin. His farm produces nearly 700 kW of energy, enough to power approximately 12,000 households.
The Irish government intends to decrease greenhouse gas emissions by 25% by 2030. Ireland’s agricultural sector contributes significantly to these emissions, accounting for more than 35% of total emissions. According to studies, cows contribute significantly to greenhouse gas pollution. Ireland has approximately 7.3 million cows, and the government is constantly working to manage the waste from these cows in an environmentally friendly way.
If 41% of farms in the nation implement anaerobic digestion, there is a possibility that every household in Ireland would be supplied with enough electricity. When grid demand is minimal, bitcoin miners can take advantage of abundant energy. By selling excess renewable energy to the power grid, the farmer can profit from Bitcoin mining.