Government authorities in China’s Sichuan province are reportedly probing into local bitcoin mining farms that have allegedly been constructed without official approval.
A state-owned newspaper in Sichuan published a front-page article on Thursday saying the land-resource bureau in Sichuan’s Garze county has found bitcoin mining farms with no prior approval built at the sites of hydropower stations.
The U.S. Department of Energy is exploring blockchain technology as a line of defense against cyberattacks on power plants.
The department’s National Energy Technology Laboratory (NETL) unit announced Wednesday that phase two of an electric grid security project has been launched in partnership with decentralized cybersecurity startup Taekion, formerly Grid7.
The laboratory provided a grant of $1 million to Taekion last year, and now as part of the second phase of the project, the startup will research on how blockchain technology can be used to secure a power plant, by keeping all sensor, actuator and device transactions on a distributed ledger.
Electronics giant Bosch and Austrian power supplier Wien Energie have come up with a blockchain refrigerator aimed to allow consumers to monitor and control electricity consumption.
The device demonstrates how households will in the near future be able to control their power usage in a “safe and transparent manner,” Wien Energie said in a press release.
As the CEO of Hut 8, one of North America’s largest cryptocurrency miners and the world’s largest publicly traded cryptocurrency miner, I’m often asked questions about energy consumption in the mining of cryptocurrency. Unfortunately, there are many misconceptions around energy use and why it’s required to safely and securely transact cryptocurrencies.
During our ribbon-cutting ceremony in the City of Medicine Hat in September 2018, a reporter asked me how I felt about something “frivolous” like bitcoin using so much energy.
Hydro-Quebéc (HQ) is a public utility that manages the generation, transmission and distribution of electricity in Quebec, Canada, but it finds itself in a position of generating more power than its customers need.
In an article from Le Journal de Québec, Éric Martel, president and CEO of HQ, relates how HQ is facing a death spiral for electricity consumption.
According to an article published by Business Insider, Dutch bank ING recently published a study suggesting that bitcoin mining consumes too much electricity. The report claims that a single bitcoin transaction consumes as much electricity as a house in a whole month, and compares it to the amount of electricity traditional electronic payment methods consume per transaction.