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.

Thank you for reading this post, don't forget to subscribe!

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.