Solar Panel Bitcoin Mining

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Solar panel bitcoin mining.

The use of solar panels is becoming more cost effective than standard electricity. As bitcoin started to grab the attention of everyone in mid 2017 one reddit user posted about their solar mining operation in the southwest desert. Once you have paid for the solar panel system itself the cost of mining is virtually free. They said the power consumption of their s3 antminer was actually being offset by the power of the sun s energy thanks to their solar panels.

Moreover the report highlights that about 80 percent of mining is powered by renewable energy. Less risky and more profitable than selling to the grid the energy used to mine bitcoin has long caused debate over whether it s a wasteful process. In 2015 a bitcoin fan took to youtube to show off his bitcoin solar powered mining farm. They explained that each of their miners was producing about 007 bitcoin each day at the time thanks to solar power.

Getting rid of a hefty electric bill which typically weighs down mining operations leaves more room for. According to the authors the study shows that most bitcoin mining occurs in global regions containing available sources of renewable energy.