Canadian entrepreneur has tried to reuse the heat created through bitcoin mining by developing plants and fish suited to the temperatures delivered by cryptographic money mining rigs by using an aquaporin framework.
Bruce Hardy, a Manitoba-based business entrepreneur, has sought to repurpose the warmth or heat created by his bitcoin mining apparatus to deliver palatable plants and fish that are suited to the temperatures produced by digital money mining gear. Mr. Hardy owns and operate 30 mining rigs, which are housed in a 20,000-square-foot building arranged in the Rural Municipality of St. Francois Xavier, Manitoba. The heat created by the diggers is then circled all through the building, and used to develop eatable plants and fish.
Mr. Hardy is the president of Myera Group – an organization that looks to create imaginative and maintainable frameworks for nourishment generation.
Mr. Hardy states that he has mined bitcoin for approximately two years. After initially investing in large-scale air conditioning to cool his mining rig, Mr. Hardy states that he realized the heat produced by mining could be diverted to be used for agricultural production. “When bitcoin came, they were an excellent proxy for what a server could do in terms of emulating heat, and whether we could use that heat for agricultural purposes,” said Mr. Hardy.
The Reeve of the Rural Municipality of St. Francois Xavier, Dwayne Clark, has said in support of Mr. Hardy’s undertaking, expressing “From what we’ve seen up until this point, it would appear that a famous move for the group. It’s as of now tidied up what used to be a eyesore for various years.” Mr. Hardy likewise verified the advantages harvested by the neighborhood group through his operations expressing that “The income from those bitcoins has helped me to keep staff on, it’s helped me make these showcases so we can indicate individuals what we’re doing in farming development.”
Manitoba Increasingly Attracts Cryptocurrency Miners
Mr. Hady expresses that the task is still in its earliest stages, with just a fourth of the building’s second floor presently lodging mining gear and plants. Mr. Hardy clqims to have gotten enthusiasm for his operation from Chinese financial specialists and Australian scientists, and plans to soon have the capacity to grow his undertaking to fill the unused space in his building.
Canadian regions, for example, Manitoba are progressively being viewed as a tempting location for cryptographic money companies to set up operations in, inferable from the area’s modest and copious hydropower. “Hydro is one of our best resources in the territory,” said Mr. Hardy, “On the off chance that we can take our vitality and utilize it here in Manitoba, we esteem include that vitality, and we can do a wide range of awesome things,”
Aside from offering cheap commercial hydroelectricity, Manitoba encounters among the minimal temperatures of major cities in North America – which has recently garnered the attention of major digital currency mining companies seeking to escape the regulatory uncertainty presently associated with China. According to Manitoba Hydro, the company has received over 100 inquiries from cryptocurrency miners in the past three months about specific sites, including from North American brokers representing Chinese investors.
Take a Crypto Pill
Crypto market is crashing, we all know that, panic sellers are taking over the market with massive sell-off. You can’t control that, just calm down and take a Crypto Pill to make things easy.
Crypto Pill is the term being used by industry leaders to make things calm down from recent fiasco, yesterday a leaked news from CFTC about Bitfinex and Tether made things even more difficult for crypto traders, short sellers went all into the market with massive short bets, and they won, Bitcoin price slipped below $10000 level to as low as $9500, but later on recovered to $10K , but selling pressure is still there.
First South Korea and now US
First it was South Korea, the country with massive trading volumes in crypto market, they announced to ban anonymous crypto trading and ban took place effective from 30th Jan 2018, then a sudden news came from US market when Bloomberg broke the news that US financial regulatory authority CFTC investigating Tether and Bitfinex, but later on it was confirmed that news was from December last year, which made market calm down a little bit after all that tension and hype about US crackdown on crypto currencies.
HODLers will take over market soon
Despite of all this fiasco, Hodlers are still holding their Crypto currencies, they are not giving up and they holding for their dear life, it is very much possible that they take over this market in near future, making another uptrend in coming months.
Venezuela is the cheapest country to mine Bitcoin
Cost of mining one Bitcoin in Venezuela is just $531
Most expensive country to mine Bitcoin is South Korea, where cost of mining one bitcoin is $26,170
After recent crackdown by Chinese Government on Bitcoin miners, most talked about topic in bitcoin community is that which country would Chinese Bitcoin miners chose to shift, as many research firms were working to find the best possible option for the miners, one of the best option is Venezuela, where cost of mining one bitcoin is the cheapest, just $531, as compared to China where cost of mining one bitcoin $3172.
Others with lower costs are Bangladesh, Belarus, Paraguay, Serbia and Trinidad & Tobago. The most expensive is South Korea at $26,170 per coin. The U.S. cost is $4,675.
Calculations for the amount of energy consumed were based on the average usage of three popular types of mining equipment: the AntMiner S7, the AntMiner S9 and the Avalon.
Bitcoin mining consumes a lot of energy and according to one estimate, Bitcoin mining currently consuming energy which is more than 159 countries, including countries like Ireland
Crypto trading volumes are dropping
Volumes in crypto market are dropping, indicating an alarming situation. Crypto market started this year on a good note but later on crashed to low levels, apart from Ethereum, all other major crypto currencies are down for 2018, but one of the most alarming situations in this matter is that trading volumes on different exchanges are dropping to lowest levels in recent months.
For example, on Bitfinex current trading volume of Bitcoin is at around 25000 which at one point of time was as high as 160000 , which means this volume is not even 20% of its peak volume. Similarly in the case of Ripple, current trading volume is 8 Million which at one point of time was 50 million, so there is an alarming situation in that regards because not only price is dropping but crypto trading volume is also dropping dramatically.
Lack of interest?
One of the key questions that analysts are asking these days is that, is it lack of interest from investors that volumes are so low? may be they have found new investment opportunity in the form of S&P 500 and Gold. Most of the analyst think that this low activity is due to the reason that market speculators are currently out of the market and in wait and watch situation to make an entry point.
Calm before the storm?
Such low volumes and price movement in a tight range suggest that this is the calm before the storm, many regulatory authorities around the world are trying to stop crypto trading by either putting complete ban or by introducing tight laws, so speculators and institutional investors are just waiting for a clear picture so that they can make their bet on it, but one thing is for sure that sooner or later market is due for heavy movement in either direction, so day traders need to watch out.
News4 months ago
Bitcoin on Mars?
Interviews4 months ago
Interview with Neil Stanley about the world of crypto currencies
News4 months ago
Interviews4 months ago
A wall street veteran’s take on Cryptocurrencies
News4 months ago
IOTA is the next Bitcoin
Research2 months ago
New World Order 2.0 : Thoughts about Blockchain Technology and Bitcoin
News4 months ago
Lily Allen once turned down 200000 Bitcoin offer
News3 months ago
Vitalik Buterin owns 500000 Ethereum