New Effective Way to Make Bitcoin Mining Green
Immersive cooling technology helps increase hashing speed and minimize power consumption, making Bitcoin mining much greener by 2030.
Bitcoin Mining Council (BMC) member Hass McCook told Cointelegraph that the industry is already moving towards this goal.
The immersive cooling process involves the Bitcoin mining ASIC immersed in a special coolant that absorbs and recirculates heat from the data centre. In addition, this method of mining Bitcoins has the potential to increase productivity.
Riot Blockchain mining company, after preliminary results of tests of immersion cooling, decided to apply this method in its activities. The company expects that through the application of the innovation in Bitcoin mining, the hash rate will increase by 25% and the ASIC performance will increase by up to 50%.
Around the Coin podcast co-host Brian Roemmele tweeted a photo of a submerged Bitcoin mining rig. He noted that immersing Bitcoin miners in liquid reduces heat and noise levels by 95%, and 40% of the generated heat can be converted into additional energy.
He is confident that by 2024 Bitcoin will be 100% environmentally friendly.
McCook agrees that Bitcoin could be carbon-neutral, but unlikely until 2024:
“I believe there will be zero emissions by 2030, but I think 2024 is a bit ambitious. I think immersive cooling technology is only part of the transition to sustainability. ”
Thanks to immersive cooling, the life of the equipment can increase, and the amount of energy spent on cooling the mining rigs for mining Bitcoins will decrease significantly. In addition, switching to pure Bitcoin mining will reduce costs and increase miners’ profits.
Miners around the world use more than 56% of sustainable electricity to mine Bitcoin, according to recent findings from the Bitcoin Mining Council.