Why Cryptomining and Sustainable Energy are a Brilliant Partnership, not Enemies

Bitcoin mining, or cryptocurrency mining, is having a tangible impact on the energy sector. Not everyone is up-to-date on this unique relationship, but anytime the discussion of sustainable energy or sustainable energy innovation comes up, cryptocurrency mining should as well. The reason being is that cryptocurrency mining is forcing the hand of innovation to make inroads with viable alternative energy resources. This focus on sourcing energy safely and efficiently will allow for the mining process to continue existing without the substantial negative impact on the environment.

Those new to the world of cryptocurrency mining may not have even considered how a cryptocurrency mining operation would have an impact on the environment, and that’s understandable. The other end of the spectrum in the cryptocurrency mining industry is less inclined to look at the environmental impact of mining when the profit margins are reaching unprecedented levels.

Members of both extreme sides (and truthfully everyone who falls in between) should get excited about how a cryptocurrency mining and sustainable energy partnership is making the changes to renewable energy sourcing from which our grandchildren can benefit (see a larger discussion on environmental impact and how SOLminer answers those concerns about the environment and mining in our blog Cryptomining and the Environment: Why It Should Matter to You).

Sounds great, but how?

It is often noted that cryptocurrency miners will search out the cheapest sources of energy. Cryptocurrency mining requires a high volume of consistent energy. Interestingly enough, the renewable options – think wind/solar –are catching up to the more traditional energy sources – think coal/gas – when it comes to cost to procure. “Renewable” energy source is no longer synonymous with “expensive alternative” energy source. With that, you’re looking at a situation in which the cryptocurrency mining industry is forcing tech advancements in renewable energy markets to keep up with demand.

This sounds like a perfect solution, but there are some holes. The first and most substantiated critique is that wind and solar energy sources are known for low-uptime. Cryptocurrency mining utilizes a consistent amount of energy 24/7, it doesn’t sleep at night when solar energy is down, and it isn’t cyclical with the seasons as wind patterns change.

Some developments in the cryptocurrency mining industry have made the necessary changes to support a space for renewable or sustainable energy in the world of cryptocurrency mining.

Why it can work

A new concept referred to as “lifecycle mining” has reframed the approach to partner energy with the hardware. In simple terms, the hardware capacity or capabilities should have a tailored type of energy to facilitate the best output for that hardware. If you have the latest and greatest hardware, you’ll want to use energy with high uptime and typically is sourced from grid energy. Older tech can shoulder the higher frequency of power interruptions and is typically less impacted by the fluctuations in energy sourcing.

Additionally, the buying and selling of renewable energy credits (REC) create a marketplace for miners to sell back unused energy for a profit, buy energy units when it is abundant to maintain operations, and not draw from the grid unnecessarily. REC buying and selling helps to ensure that this renewable energy created is used, stored, and not dumped for waste while maintaining access for users regardless of the energy production rates in the moment.

SOLminer is leading the way in sustaining and supporting cryptocurrency mining with care for future generations.

SOLminer Offers Top of the Industry Mining & Operations Support

For eligible customers, SOLminer will manage your energy needs and consumption rates while offering assistance in selling back any excess power you produce which may provide tax credits. This returned energy to the grid means energy isn’t wasted and will positively contribute to your profit margins. SOLminer offers customized solutions based on your specific needs- if your demands or needs adjust, we support what you need when you need it.

SOLminer Means Mining Responsibly

SOLminer offers solutions for both GPU and ASIC with state-of-the-art power and cooling configurations to minimize any disruptions. We pride ourselves on a commitment to responsible mining with a reduction in environmental impact at the heart of what we do.

SOLminer offers large-scale hosting solutions for your operations with a personalized approach for the needs of every customer. Our staff is committed to providing holistic management- from monitoring electrical components and environmental factors to trouble-shooting or solutioning for any concerns that arise.

Contact us today to find out how SOLminer can help your operation reach your goals faster and more effectively.

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