Norwegian BTC Miner Users Waste Heat To Dry Wood

A Norwegian BTC miner uses renewable energy but he is also using waste heat to dry out wood and maybe soon even seaweed so let’s find out more today in our latest Bitcoin news.

Norway is a leader for renewable energy management in Europe and about 99% of Norway’s energy comes from hydropower while the grid usually enjoys a green energy surplus. But for the largest data center and BTC miner Kryptovault, the Norwegian BTC miner uses regenerative hydropower to attempt to solve valid BTC blocks which were not enough. At the Honefoss Bitcoin mining operation where the employees have named it “The Cathedral” due to its expenses, the hot air generated by the BTC mining rigs will be recycled and used to dry out chopped logs.

The CEO of Kryptovault Kjetil Hove Pettersen said that Norway is the perfect location for mining and that with the log-drying operation, the seaweed operations will also kick off in the first half of 202. According to Pettersen, Norway has plenty of trapped energy because of the higher production compared to consumption as well as a limited capacity to transfer the excess energy:

“This translates to very low energy prices and we can ‘rescue’ that trapped energy rather than letting it go to waste.”

It will appear that the withdrawal of electricity subsidies from the BTC mining farms in 2018 hasn’t affected the country’s status as a preferred destination to mine crypto. The reports show that Bitcoin mining is quite heavy and flipped the narrative while reporting on Kryptovault’s operation and some of the reports noted “Can Bitcoin Be sustainable?” The general manager at the timber company that receives the dry logs, Svein Bjerke, said that drying wood with the waste head from BTC mining is the most environmentally friendly way to do this.
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The other benefits of Bitcoin mining are actually, much bigger than the environment itself.

Over time, Honfoss grid consumers will get better off due to the presence of Kryptovault’s energy-hungry process. The grid fees are hacked down year after year because the area’s total energy consumption increases and the more of it is being used, the more prices come down in the long term. The company estimated that about 2 million EUR is saved due to Kryptovault’s existence in the gird. The route to mining 100% green and renewable BTC hasn’t been easy though with plenty of challenges along the way including:

“Project and engineering perspectives to financial challenges, involving banks, tax and regulatory compliance. Just the step of setting up a bank account when working in this industry can be a large challenge today.”