Bitcoin’s value catches attention with 12% rise recovery after 4-week low, as mining goes green.
BITCOIN Cash prices have suddenly skyrocketed after observing the cryptocurrency climb to 12% in value today. Currently selling at $1,115.22 records an increase of $119.88 in the last 24hrs.
As prices continue to rise, the virtual currency could earn its right also to be set for a further advance that it could join one of the dominant crypto exchange in the U.S.
Bitcoin mining is thriving and roaring in Iceland, making it the new hotbed of cryptocurrency, due to the country’s geothermal and hydroelectric power plants. It is most likely that most of the mining will be moved to Iceland to take advantage of 100% natural resources to power the effort.
As to everybody’s surprise, the industry is so big that more green energy will be used creating the cryptocurrency than power homes this year with operations focused on efficiency by engaging AI and customer algorithms.
Yes, Bitcoin is going green. Eric Krige, founder and CEO of the Moonlite project, states “I think it will be sinful to be burning coal to try and mine Bitcoin. That would send the world backward[s], and we don’t want to be a part of any of that. We are seeing a trend where the new projects coming out of focusing on green energy, and we think that’s definitely the way to go.”
The Moonlite project will be setting up its mining operation in the data center capital of the world in Iceland, where the average cost to power the operation is only 0.043 USD per kWh.
It’s also observed that by Johann Snorri Sigurbergsson, spokesperson of Icelandic energy, with the growing number of possible miners keen to join the country’s expanding ranks of cryptocurrency mining, that once all projects are realized, we won’t they won’t have enough energy for it.
While Asia is leading the way in mining, China may halt its operations in the next couple of months, presenting an opportunity for Iceland.
While Bitcoin shows promising growth this year, more and more mining go-getters will look for a cheaper alternative to power their efforts.
At the end, who will benefit more when all projects go-green. Iceland may have a different perspective when the need to provide power exponentially rise.