Godlike Productions - Discussion Forum
Users Online Now: 2,488 (Who's On?)Visitors Today: 503,049
Pageviews Today: 1,929,912Threads Today: 837Posts Today: 19,251
11:26 PM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

Crypto Miners Are Buying Up Entire Power Plants

 
Anonymous Coward
User ID: 78070839
07/23/2021 02:12 AM
Report Abusive Post
Report Copyright Violation
Crypto Miners Are Buying Up Entire Power Plants
[link to futurism.com (secure)]


Old power plants, factories, and warehouses are being loaded up with crypto mining rigs.

As the energy demands of cryptocurrency mining garner increased scrutiny, some mining operations are cutting out the middleman and setting up shop inside existing power plants.

These companies are in search of what’s called “stranded power,” which could be an existing power plant or an abandoned facility with access to dormant energy sources, Curbed reports. For example, a crypto mining company called Core Scientific moved into an old Levi’s denim factory that had near-exclusive access to a nearby hydroelectric dam. Others, like Greenidge Generation, simply bought a gas-burning power plant to directly power their operations — a strategic move, to be sure, but one that calls into question whether crypto mining could ever actually become sustainable like advocates claim.
Anonymous Coward
User ID: 79021683
United States
07/23/2021 02:15 AM
Report Abusive Post
Report Copyright Violation
Re: Crypto Miners Are Buying Up Entire Power Plants
Bad investment. Mining is going away soon.
Anonymous Coward
User ID: 80641840
United States
07/23/2021 02:26 AM
Report Abusive Post
Report Copyright Violation
Re: Crypto Miners Are Buying Up Entire Power Plants
wtf is crypto mining? And why the hell do they need so much juice? Yeah, go ahead and call me gramps or some shit but I have zero interest in investing in thin air on some gamble to get rich playing someone else's game of chance.
Anonymous Coward
User ID: 79021683
United States
07/23/2021 02:32 AM
Report Abusive Post
Report Copyright Violation
Re: Crypto Miners Are Buying Up Entire Power Plants
wtf is crypto mining? And why the hell do they need so much juice? Yeah, go ahead and call me gramps or some shit but I have zero interest in investing in thin air on some gamble to get rich playing someone else's game of chance.
 Quoting: Anonymous Coward 80641840



Mining is just slang for basically processing a transaction on a crypto network. It takes a lot of computer power to do this.

Dont ask why it takes this much power as you really don't want to learn why anyway. Just trust me.

Soon most of these systems will be updated to use basically no power and will become very cheap. At this point is when everyone will start using them unless they get banned.
Anonymous Coward
User ID: 78264038
United States
07/23/2021 02:36 AM
Report Abusive Post
Report Copyright Violation
Re: Crypto Miners Are Buying Up Entire Power Plants
there's gold in them circuits
Anonymous Coward
User ID: 66540088
United States
07/23/2021 03:21 AM
Report Abusive Post
Report Copyright Violation
Re: Crypto Miners Are Buying Up Entire Power Plants
proof of work is going nowhere man get real.
Anonymous Coward
User ID: 80261445
Germany
07/23/2021 04:45 AM
Report Abusive Post
Report Copyright Violation
Re: Crypto Miners Are Buying Up Entire Power Plants
You can`t mine something if the foundation for the mining process is gone.





GLP