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.
Is Toronto Next to Accept Bitcoin for Property Taxes?
Toronto is the biggest city of Canada with a population of more than 6 million. It’s also one of the leading global financial centers which makes it an attractive place for investors.
Bitcoin has emerged as the leading cryptocurrency in the world and attracted a lot of attention from financial investors. There are many crypto exchanges and investors in Toronto, which makes it an important destination for crypto startups and investors.
Recently, there has been a surge in usage of Bitcoin in the Real Estate world as lot of companies around the world are now accepting Bitcoin for buying and selling of properties. In April 2019, Innisfil, A town located in Ontario, at a distance of about 1 hour drive from Toronto, announced that they will accept Bitcoin for property taxes at the municipal level. In July this year, Richmond Hill announced that they are ready to accept Bitcoin as a payment method for property taxes.
Evan Kuhn, Co-Founder of a Toronto based crypto exchange Coinberry believes that integration of Bitcoin as a payment method for property taxes in Toronto can reduce cost, not only for tax payers, but for municipalities as well. Kuhn mentioned
“It doesn’t cost homeowners to use the service, and it costs the municipalities far less in processing fees”
“A credit card company charges a 3% fee,” he said. “Our fee is .5%, so that’s a lot more beneficial for the municipalities.”
He further explained the entire process to make it simple for the users and for the authorities. “When a resident makes a payment through our exchange, the company immediately converts the Bitcoin into Canadian Dollars and pays the relevant authority, so in basic concept this entire process works like a credit card system but with lower fee for both parties”
Morning Crypto Roundup
- Crypto market entered into a consolidation phase, with market cap at around $265 billion, market is currently trading in a range
- Bitcoin stays above $10,000
- Gray scale reported in a recent report that there are 7.1 million active Bitcoin users worldwide with more than 32 million Bitcoin wallets.
- After Innisfil and Richmond Hills, is Toronto next to explore an opportunity to pay property taxes through Bitcoin?
- According to a report from CryptoCompare.com, Untrusted crypto exchanges are dominating the crypto volume with more than 2/3 share