Bitcoin Mining Goes Green: Crypto Mining Companies Add to Sustainable Energy Market
Vancouver, Kelowna and Delta, British Columbia--(Newsfile Corp. - April 14, 2022) - Investorideas.com, a leading investor news resource covering crypto mining technology and sustainable energy stocks releases a special report, featuring Epazz Inc. (OTC Pink: EPAZ), on the crypto mining industry transitioning to sustainable energy solutions and energy saving technologies as they become more economical.
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In a recent article titled "How Can Cryptocurrency Transition to Sustainability?" both investment into sustainable energy solutions, as well as new mining technologies are listed as potential solutions to crypto mining's growing energy demands.
"As Bitcoin usage becomes mainstream by the broader public and financial institutions, there's increased attention paid to the environmental consequences. While some countries ban mining, these actions shift the mining to other countries, and don't address the environmental impacts of mining at a global scale."
Epazz Inc. (OTC Pink: EPAZ), a mission-critical provider of blockchain cryptocurrency mobile apps and cloud-based business software solutions, recently announced that CryObo NFT Solar Power converted into Bitcoin project will launch its mobile app in the third quarter.
Epazz Inc. is a leading cloud-based software company specializing in providing customized cloud applications to the corporate world, higher-education institutions, and the public sector. Epazz BoxesOS v3.0 is the complete business web-based software package for small to midsize businesses, Fortune 500 enterprises, government agencies, and higher education institutions. BoxesOS provides a combination of many web-based applications that an organization would otherwise need to purchase separately. Epazz's other products are DeskFlex (room scheduling software) and Provitrac (applicant-tracking system).
The CryObo mobile app will provide token holders with the ability to exchange their tokens for fiat currencies and also track the income generated from mining operations or other income-generated operations. Token holders will be able to sign up for future projects.
Epazz's CryObo technology will use solar power for sustainable Bitcoin mining and NFT tokens for real estate tokenization. The company is creating a cooling technology to control the underground servers' temperature.
Shaun Passley, Ph.D., Epazz Inc. CEO and Chairman, said, "Our mobile app will make it easier to earn income with our Bitcoin mining operations using solar power."
HIVE Blockchain Technologies recently announced the production figures from the Company's global Bitcoin and Ethereum mining operations for the month of March 2022, with a BTC HODL balance of 2,568 Bitcoin and 16,196 Ethereum as of April 3, 2022. In addition to this the Company also announced two milestone accomplishments of reaching 2 Exahash of Bitcoin mining and 6 Terahash of Ethereum mining this month
March 2022 Production Figures
- ● 278.6 BTC Produced
- ● 2.0 Exahash of Bitcoin mining capacity
- ● 2,459 ETH Produced*
- ● 4.58 Terahash of Ethereum mining capacity at beginning of March
- ● Increased to 6.1 Terahash of Ethereum mining capacity at end of March
*The Company's production of ETH from GPU mining (including selective optimizations of GPU hashrate) has yielded a total ETH production of 2,549 ETH.
Frank Holmes, Executive Chairman of HIVE, stated, "We are very pleased to report HIVE has continued its extremely strong momentum in expanding our hashing power, notably our Ethereum mining hash power grew by 33% this month. In March we produced an average of 9.0 BTC per day, and we are pleased to note that as of today, we are producing approximately 9.0 BTC a day even after the recent difficulty increase of 4%. Our Bitcoin hashing power increased in March and at the calendar month-end our hashrate was 2.0 Exahash, which translated into a 6% increase in BTC mining on a month over month basis, while BTC prices corrected."
Aydin Kilic, President & COO of HIVE, noted, "We continue to strive for operational excellence, ensuring that as we scale our hashrate as a company we also optimize our uptime, to ensure ideal Bitcoin and Ethereum output figures." Mr. Kilic continued, "We also would like to provide an update on the BTC and ETH equivalency, where one can equate value of the coins produced daily. As such the ETH that HIVE produced during the month of March, equated daily, is approximately equal to a monthly total of 168.8 BTC, which we refer to as Bitcoin equivalent or BTC equivalent. This is in addition to the 278.6 BTC produced from our Bitcoin mining operations during March, for a total of 447.4 Bitcoin equivalent."
Last month the Company announced a supply agreement with Intel Corporation to purchase new high performing ASIC chips that will be incorporated into state-of-the-art mining equipment that will be custom built for HIVE as well as announced entering into a letter of intent with Compute North LLC ("Compute North") to host 100 megawatt ("MW") of mining capacity in one of their new Texas renewable energy data centre facilities.
Recently, Intel has published more specifics on the introduction of the Intel Blockscale ASIC, a game changing event for BTC miners. Intel has only made this chip available to select customers, of which Hive Blockchain is one of four customers globally. The Intel Blockscale will advance energy efficient hashing for proof of work consensus using green energy. Further their US designed high performing chips are up to 26 J/TH power efficiency at a very competitive and attractive price that fits into our strategy to generate high returns on invested capital for our shareholders. Hive Blockchain shares in the sustainability goals that are important to both Intel and ESG focused investors.
Marathon Digital Holdings, Inc., one of the largest enterprise Bitcoin self-mining companies in North America, is also focusing on sustainable energy having announced the Company's intent to transition its Bitcoin miners from the facility in Hardin, MT to new locations with more sustainable and non-carbon emitting sources of power.
In 2021, Marathon announced that the Company's mining operations would be 100% carbon neutral by year-end 2022. To achieve that goal and to build upon its current strategy, Marathon intends to transition its Bitcoin miners from the facility in Montana, which currently derives its power from a coal-fired power plant, to new locations with more sustainable sources of power. The transition is planned to occur in stages to minimize downtime and is currently expected to be completed during the third quarter of 2022.
"Marathon made a commitment for our mining operations to be 100% carbon neutral by the end of 2022," said Fred Thiel, Marathon's Chairman and CEO. "To achieve that goal, we have endeavored to ensure our miners are as sustainably powered as possible. With the majority of our fleet already scheduled to be deployed at renewable power facilities and deployments currently underway, we believe it is an appropriate time to transition our legacy operations away from fossil fuel generation and towards more sustainable sources of power. We will therefore be moving our miners from Hardin, Montana to new locations that are more in line with our current strategy of deploying behind the meter at sustainable power stations. We would like to thank the team at Beowulf and Hardin for the integral role they played in helping Marathon through the early stages of our journey to become one of the leading Bitcoin miners in North America."
Companies like Hut 8 Mining Corp. have had sustainability on the mind since early inception with two digital asset mining sites located in Southern Alberta and a third site in North Bay, Ontario, all located in Canada, Hut 8 has one of the highest capacity rates in the industry and one of the highest inventories of self-mined Bitcoin of any crypto miner or publicly-traded company globally. With 36,000 square feet of geo-diverse data centre space and cloud capacity connected to electrical grids powered by significant renewables and emission-free resources, Hut 8 is revolutionizing conventional assets to create the first hybrid data centre model that serves both the traditional high performance compute (Web 2.0) and nascent digital asset computing sectors, blockchain gaming, and Web 3.0.
The company recently reported advancing its Bitcoin holdings in the period ending March 31, 2022.
"Our teams working in Medicine Hat and Drumheller, Alberta have continued to ensure our upgraded machines are delivering strong results for us," said Jason Zaluski, Head of Technology, Hut 8. "Our orders from MicroBT are arriving as scheduled, we are experiencing consistent growth in our MicroBT Authorized Repair Centre, and we continue to actively recruit team members as we continue to grow."
As one Coindesk recent news article pointed out, "When China banned bitcoin (BTC) mining from May of last year, it handed the U.S. a "trillion-dollar present," as one mining executive told CoinDesk. But perhaps most importantly, crypto miners, particularly listed firms in the U.S., Canada and parts of Europe, are presiding over a shift towards greener and more innovative ways to use energy for mining coins."
Sustainable energy has seen several booms in the past but has often slowed down due to lack of funding and a loss in momentum, but with the large scale demands of the crypto mining community growing and the seemingly infinite capital raising potential behind that market, sustainable energy could be receiving the final boost to becoming a true reality.
With headlines of "Billionaire Peter Thiel Says Bitcoin Could Rise 100x", there is a lot at stake in getting it right.
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