Tuesday, 17 September 2019

Shipping containers are now being used for cryptocurrency mining

Cryptocurrencies might be intangible, but that doesn’t stop them from sucking up an inordinate amount of energy.
Bitcoin, for example, consumes more energy than all of Ireland thanks to the high-powered computation required to run its networks.

The solution according to one startup? Shipping containers. NordCoin, a company out of Estonia, calls itself a “scalable and efficient cryptocurrency mining farm.” NordCoin is not a farm, technically speaking. It’s an assemblage of refurbished 40-foot shipping containers outfitted with computers and cooling mechanism that can be moved on a whim.

The idea is that the shipping containers will chase cheap, green energy, ideally in countries with cool climates. The company says this mobile set-up is beneficial in a couple of ways: First, it frees crypto operations from becoming tied to a city or government. Second, cheaper energy ultimately makes for a more efficient and cost-effective way to mine cryptocurrency. The company currently has four functioning units and has begun raising funds for build up to 30 more.

”We believe that future crypto-mining operations should be decentralized, mobile and independent from any single government, as well as placed in a region with a surplus of electricity production,” the founders say.

And if this grand vision fails? They can always refurbish them into houses.


source:curbed.com
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