The sale of cryptocurrency helps the hydroelectric power station to stay afloat. In addition, such bitcoin mining does not harm the environment
One of the oldest hydroelectric power plants in the United States has started working on bitcoin mining. Electricity is generated by seven turbines with a total capacity of about 5 MW вЂ” this is completely original equipment, which has not been changed since 1897.
Due to its low capacity, the owners of the HPP had to look for a more profitable application for the generated electricity than a simple sale. It turned out that bitcoin mining brings about nine cents from each kWh, while the sale of electricity to the national power grid is only three cents, Elektrovesti writes.
The head of the company, Jim Besha, bought mining equipment from his hands and placed it in the HPP building. According to him, this is the best way to mine bitcoin, because hydropower is completely renewable and environmentally friendly.
The company immediately sells the extracted bitcoins вЂ” Besha does not consider cryptocurrencies a reliable means of accumulation due to the strong instability of their exchange rate.
The hydroelectric power station in Mechanicville (New York) is one of the oldest American hydroelectric power stations, it was built in 1897. In the 1980s, the hydroelectric power plant was planned to be closed, but instead, the Albany Engineering Corp company leased it for 40 years and turned it into a museum complex, and now began to use it for bitcoin mining.
Recall that bitcoin mining consumes a huge amount of electricity. Therefore, fans of cryptocurrency around the world are condemned by environmentalists and public activists.