Renewable energy Bitcoin mining company powers up in Sweden

Christian Anders, the founder of BT.CX, a Swedish Bitcoin exchange dating back to January 2012, informed Cointelegraph that Bitcoin mining is not extremely typical due to high energy prices. The Nordics are a class apart, Anders informed Cointelegraph:” Sweden, Finland, and Norway have a surplus of energy and negative energy rates from time to time, and mostly eco-friendly energy in the type of hydropower in a remote place which is difficult to distribute. International energy consumtion is approximated at 25,000 terawatt-hours according to the IEA.However, portrayed as an energy-guzzling and carbon-intensive industry, Bitcoin mining takes in simply 149.95 Terawatt hours of electrical power per year, or less than 0.7% of international energy, according to the Cambridge Center for Alternative Finance.Related: Tether invests in El Salvadors $1B renewable energy projectMeanwhile, sustainable energy consisting of hydro continues to dominate the international bitcoin mining energy mix.

Christian Anders, the creator of BT.CX, a Swedish Bitcoin exchange dating back to January 2012, informed Cointelegraph that Bitcoin mining is not extremely common due to high energy rates. The Nordics are a class apart, Anders informed Cointelegraph:” Sweden, Finland, and Norway have a surplus of energy and unfavorable energy prices from time to time, and mainly eco-friendly energy in the form of hydropower in a remote location which is tough to distribute. Worldwide energy consumtion is approximated at 25,000 terawatt-hours according to the IEA.However, portrayed as a carbon-intensive and energy-guzzling industry, Bitcoin mining takes in simply 149.95 Terawatt hours of electricity per year, or less than 0.7% of global energy, according to the Cambridge Center for Alternative Finance.Related: Tether invests in El Salvadors $1B eco-friendly energy projectMeanwhile, sustainable energy including hydro continues to control the worldwide bitcoin mining energy mix. Surrounding Norway, for example, contributes roughly 1% of the Bitcoin hash rate and is 100% sustainable, while the brand-new GDA installation in Sweden is another green energy Bitcoin miner.