Who needs coal when you have cow manure? Cryptocurrency Mining Is Going Brown

Proof-of-Work (PoW) cryptocurrency mining has been the subject of bad press lately. Critics argue that excessive energy consumption and the use of fossil fuels are wasteful and cause irreparable harm to the environment. But UK-based entrepreneur Josh Radett hopes to change that with a renewable energy company that turns cow dung into energy through anaerobic digestion. Farmers Use Fertilizer to Power Cryptocurrency Miners Radett founded Easy Crypto Hunter in 2017 and sold mining equipment to farmers, which they used to convert cow dung into energy. In the past, farmers producing renewable energy would typically sell this power to utilities at a typical rate of between £0.04 to £0.07 ($0.056 to US$0.099) per kilowatt hour. But with the growing popularity of digital currencies, farmers quickly realized that they could earn ten times more crypto instead. The company's mining rigs typically sell for £18,000 ($25,000) and average an annual profit of around £30,000 over a three-year period, with the bulk of those profits coming from the institutional adoption of digital currencies in 2021. “Things have exploded recently as more and more farmers have the idea to incorporate cryptocurrency mining into their farming activities. Bitcoin is the most recognizable of all cryptocurrencies, but Radett said his equipment is not geared towards mining BTC. Instead, he gave examples. We see Ethereum as popular choices. "Our computers can mine hundreds of different digital currencies, but we don't mine bitcoin because it's not as energy efficient and not as profitable as other coins." ASIC Mining Unlike Bitcoin, both Ravencoin and Ethereum offers varying degrees of application-specific integrated circuit (ASIC) resistance. This means that there is little benefit from using ASIC mining equipment to mine these cryptocurrencies. ASIC miners are specially designed electronic circuits.

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