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Hydro mining could be the future for cryptocurrencies

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...

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Is Bitcoin harming the planet?

Bitcoin’s recent record highs risk increased environmental damage, according to new research. With the cryptocurrency reaching a record high of $6,600 in recent weeks, the sector is an increasingly tempting proposition for those inclined to invest in the outlay for a mining operation. However, this is not the best news for those counting Bitcoin’s carbon footprint. Recent research has highlighted the high cumulative energy cost produced by mining, with Digiconomist highlighting an industry-wide total outlay of 24.5Twh of energy. To foster an idea of scale, Nigeria is listed as the country of closest comparison for energy consumption [https://digiconomist.net/bitcoin-energy-consumption], with such...

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Cryptocurrency mining hardware sales tailing off

PC processor maker AMD reported a sizeable boost in profits in its most recent quarter, largely thanks to sales of Vega 56 and Vega 64 GPUs which are popular among Bitcoin miners. These chips' massive processing power allows miners to harvest coins faster, and we've seen news of couriers flying stock, as soon as they hit the shelves, around the world to help kit out the latest major Russian or Chinese mines.  However, AMD predicts that sales for the next quarter will be down by around 15% from the mining market, while in the longer term, blockchain processing demands could...

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Where is the future of Bitcoin mining?

Ever since mining Bitcoin became popular, the computational power required to mine it has increased. This means that it is requiring more energy and is, therefore, becoming less lucrative for miners. One way that miners are trying to maintain their profitability is by decreasing their energy costs. The added benefit of this is that it reduces the environmental cost as well.  Mining a single Bitcoin now consumes 20 barrels of oil. This is an astonishingly high amount, although, with the current value of Bitcoin standing at over $6,000, this equates to the value of around 100 barrels of oil. So,...

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Cheaper Graphic Cards on the Horizon for Mining

Graphic card giants Nvidia and AMD are believed to be aiming to sell a stripped-down crypto-specific graphics card. The demand led by Bitcoin miners has bolstered sales in recent years. Other graphic card manufacturers are also looking push their products specifically designed for mining. According to AMD is seeing an increase in demand due to mining and many US stores are sold out. Nvidia are also seeing shortages but as they are more expensive most opt for the cheaper AMD cards. Obviously, the gaming market remains the long term priority for graphic card manufacturers. So it does seem a sensible...

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