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Bitcoin Mining Shines the Light on Solar Energy as the Answer to 99% of End-User Demand!

Cryptocurrency mining has become more popular than ever. Despite criticism of its environmental impact, more people are turning to crypto mining as a way to reduce energy waste. According to an annual report by ARK Invest, a study has demonstrated how Bitcoin mining can actually reduce this harmful effect by teaming up with solar storage systems.

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The “Big Ideas 2023” report states that incorporating crypto mining into solar energy grids can enhance stability and scalability without breaking the bank. What’s more, the report found that by pairing a Bitcoin miner with a 4.6x larger battery, solar energy can satisfy more than 99% of end user demand without sacrificing its financial performance.


Unconventional Methods To Mine Bitcoin!

Solar-powered Bitcoin (BTC) mining is being used as a large-scale attempt to reduce the carbon footprint of Bitcoin. In September, a five megawatt mining plant opened in South Australia, and a similar project was established in Colorado. Moreover, a well-known crypto enthusiast Peter Egyed installed an off-grid solar array to power a Bitcoin mining operation at home, expecting to make a return on his investment within 36 months.

Aspiring crypto miners looking to use solar power for their rigs now have some insights into the costs, conditions, and potential profitability, courtesy of YouTuber Drew Vosk. Organizations and individuals alike can look to renewable energy sources to power their rigs. For example, the Virunga National Park in Eastern Congo recently turned to its hydro resources to mine Bitcoin in order to fund its operations.

This cost- and energy-efficient method of mining illustrates a possible alternative to the traditional method.