The next time someone tries to destroy renewable credentials for mining Bitcoin (BTC), think about mining farm AmityAge. Founded by Gabriel Kozak and DuÅ¡an Matuska, this bitcoin mining facility uses human and animal waste to generate electricity to mine cryptocurrency.
Matuska, the man “who knew Satoshi Nakomoto,” told Cointelegraph that “methane from biodegradation powers our machines.” With human and animal waste not going to run out any time soon, their BTC mining process is both eco-friendly and renewable.
According to Matuska, the use of renewable energy like biogas “shows that we can really accelerate the adoption of these renewable energy sources and ultimately increase their return on investment” while also being a cheap source of energy.
Biogas power plants, an inexpensive and environmentally friendly way of generating electricity, convert waste into methane gas through a fermentation process. The gas is then burned as fuel.
Matt Lohstroh, co-founder of Giga Energy, a natural gas Bitcoin miner in Texas, told Cointelegraph that “the search for cheap energy [para la minerÃa de Bitcoin] speed is the biggest problem. All low-hanging fruits are plucked.”
Matuska added that “the energy situation in Europe changed drastically in November, with a huge price spike and a conflict just around the corner.” As Lohstroh alludes to, it can be difficult to make a profit mining Bitcoin, which keeps Matuska “preoccupied and worried.”
But even Matuska, a perennial optimist, told Cointelegraph:
“The most exciting part [de la minerÃa de Bitcoin] It’s knowing that we’re like “bitcoin security guards” and just helping out a bit with our hashrate. We continue to help protect the network.”
Matuska adds that the overall ecological footprint of his mining farm is quite small and one of the downsides is the excessive heat.
If Matuska is looking for excessive heat ideas, look no further than the creative bitcoin mining community, which uses heat from bitcoin mining to heat mobile homes, grow flowers in the Netherlands and dry wood in Norway.
Matuska “definitely” recommends that more and more Bitcoin seekers start mining the cryptocurrency:
“You can acquire a lot of useful knowledge while building your first miner. It doesn’t take much to earn, but the experience is worth a fortune.”
For those interested in starting bitcoin mining at home, while the process used to be complicated and expensive, solo mining is making a comeback. Compass Mining, the pioneers of at-home Bitcoin mining, started selling hardware directly to consumers in late 2021.
Compass CEO Whit Gibbs told Cointelegraph that bitcoin miners are among the largest bitcoin bills. It illustrates the point, “You can buy $10,000 worth of bitcoin, or you can buy an ASIC (bitcoin mining rig)”, knowing full well that it should pay back the initial investment in “12 to 14 months”. And closes:
“You have to be bullish on bitcoin to believe that you’re going to see that return on a one-time basis, rather than just buying that amount of bitcoin outright.”
Clarification: The information and/or opinions expressed in this article do not necessarily reflect the views or editorial line of Cointelegraph. The information contained herein should not be construed as financial advice or investment recommendation. All investment and trading movements involve risk and it is the responsibility of each person to conduct their proper research before making any investment decision.
Investing in crypto assets is not regulated. They may not be suitable for retail investors and you may lose the entire amount invested. The services or products offered are not intended for and are not accessible to investors in Spain.