When people first started mining for cryptocurrencies, they could do it all from their standard home computer. As time has progressed and the industry has moved on, however, this landscape has changed. While you can still use a fairly normal home computer for mining things like Bitcoin, the boom in the industry has led to mega-powerful mining farms being set up. These mining farms contain many ultra-powerful computers that mine for cryptocurrency and make individual home mining far harder in comparison.
One big problem that these huge mining farms have, however, is the amount of electricity they use.
How can hydro mining help?
Hydro mining uses water to generate the power to run all the computers in a mining farm, along with water cooling powered systems for safety when in use. This type of mining is an environmentally and sustainable form of mining compared to using traditional fossil fuels to generate electricity.
As an example, one Ethereum transaction burns 53KwH in terms of electricity used. When you think your average dishwasher uses 288KwH in a whole year, you can see why the cryptocurrency industry is looking for cleaner, greener ways to run all of its mining hardware.
Hydro mining could be the future
Not only does hydro mining hit the mark in terms of being a renewable energy source, but it also offers a great value solution to mining farms in terms of cost. Hydro mining actually uses less energy to do the same job as traditional fossil fuels, which means higher profits for the relevant investors. Another real bonus of this sort of mining is that it allows for companies to use water cooling systems to keep their hardware at the correct temperature. This leads to fewer burnouts from overheated equipment and less downtime as a result.
By adopting hydro mining as a way to power their operations, mining farms and businesses will not only be helping the environment but also working in a smarter, more efficient way.