In many countries, mining is not very profitable as to produce blocks, therefore new Bitcoin, an energy use is necessary that m

In many countries, mining is not very profitable as to produce blocks, therefore new Bitcoin, an energy use is necessary that must be contextualized with the cost of electricity of the nation where you reside. Another problem often discussed at European level is Bitcoin pollution, due to mining. Generally, electricity is produced by elements destined to run out: fossil fuels (oil, fuel oils, coal and natural gas). Where is electricity cheaper? In China. The largest mining farms (30/40%) resided in China before mining was banned. Energy was therefore mainly produced by gas and coal-fired power plants that cause an increase in CO2 in the atmosphere due to the combustion of coal (these gases capture the sun's rays and prevent it from returning to space, causing the planet to warm). Today the largest mining farms are located in the USA and these try to exploit mainly renewable energy.

In fact, for mining it is also possible to exploit renewable energy therefore photovoltaic systems and perhaps store the excess energy produced to perform other tasks.

RENEWABLE ENERGIES

You know that to produce electricity we need: sun, wind, water. It can be easily understood that the main disadvantage is the weather conditions.

Renewable energies are all those sources of natural energy not subject to exhaustion.

We can mention:

Wind energy (energy can be stored by generators but a wind of at least 5 m / s is required for a 1.5 KWh reactor)

Geothermal (energy in the subsoil produced by the decay of radioactive isotopes and therefore by radiogenic heat, it is exploited by heat pumps and stored in plants allowing to heat the water)

(the power of water can be exploited to produce energy only if there is a stream or an ocean / sea near the house)

Geoelectric (inherent in the soil)

(the easiest renewable energy to produce is solar energy)

In addition to reducing pollution, it is also possible to save money by exploiting natural sources. The sun is the largest source of energy thanks to its rays transformed into electricity by photovoltaic systems.

SOLAR THERMAL AND PHOTOVOLTAIC PANELS

The principle of operation is quite simple: thermal solar panels convert solar radiation into heat (thermal energy), which is then transferred to an accumulator for later use (for example, it is possible to heat water or an environment). The thermal solar panels only heat the water and have an efficiency of 80%.

Instead, photovoltaic solar panels exploit solar radiation to produce electricity (which can be used for household appliances and so on). They consist of silicon photovoltaic cells. The light particles (photons) transfer their energy to the free electrons present on the cell which, in turn, produce electricity through movement. In winter, the problem is relative because this energy is produced by sunlight, not by the heat emitted so as long as there are solar rays, electricity will continue to be produced. In the absence of the sun, production drops by about 30%. It should be emphasized that energy production falls at night, even if there are anti-solar panels capable of producing energy at night: the photovoltaic cells cool down compared to the surrounding air and precisely this difference in temperature can be exploited to produce electricity at night. The ideal would be to have a roof oriented to the south, inclined by 20-30° and free of obstacles that can cause shading that prevent the capture of solar energy.

BITCOIN MINING WITH PHOTOVOLTAIC SYSTEMS

To solve the complex calculations arising from mining, we need a large consumption of electricity. In 2021, the average annual consumption in the world to extract Bitoin and Bitcoin Cash was 152.77 TWh, corresponding to the absorption of a country like Malaysia. Today, Bitcoin alone reaches 140 TWh. This quantity increases as the number of miners increases.

To mine Bitcoin, GPU video cards are no longer enough, but specific hardware and devices called ASICs are now required. Alternatively, it is necessary to choose the components of our computer very carefully, preferring those that require less current resources because RAM, super-performing hardware or monitors are not necessary. ETH mining consumed a lot of RAM.

The high consumption of energy and its cost, pushes miners to move to low-cost renewable energies.

However, it should be considered how much electricity is available in surplus from your photovoltaic system, furthermore the full node must possibly be active 24 hours a day.

USE EXCESS ENERGY

An example could be building hydro-electric and wind (renewable energy) plants to use the surplus energy to produce Bitcoin. When users' energy needs increase, make this a priority over mining. This would solve any blackouts and waste of electricity. In addition to producing Bitcoin, the energy produced by heat can in turn be used.

For example, miner Pawel Wojciechowski exploits photovoltaic panels for mining (31 panels on the roof, capable of acquiring 9.9 Kilowatts peak), using the excess heat to heat the water for his family. This is a boiler connected to the home's heating system that uses excess heat. The boiler is connected to its mining device to dissipate excess heat and exploit it. The mining hardware is immersed in a chemical agent, this gear transmits the heat to the heating system which then distributes it throughout Wojciechowski's house.

, a country in the province of Trento that hosts a historic hydroelectric plant, at the end of 2021 the municipal administration approved an agreement with the IDM company for the supply of 20 supercomputers, to be installed in the power plant for Bitcoin mining. A similar process is also used in Costa Rica, through hydroelectric and geothermal processes. In Dakhla, , US private equity firm Brookstone Partners announced a fundraising campaign to start construction of a 900 MW wind farm to power a Bitcoin mining datacenter. In , the Blockstream and Block companies intend to exploit Tesla's solar energy production for Bitcoin mining and to fully cover the energy needs of families. The facility will be powered by a 3.8 MW photovoltaic plant and a 12 MWh Megapack. As you can see Bitcoin evolves. It is possible to use renewable resources that produce excess energy... to mine and this energy produced by mining can in turn be used as heat!

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