American Firm Uses Excess Energy From its Power Plant to Mine Bitcoin

The concept of Bitcoin mining is always met with a lot of criticism. Atlas Holding LLC shows this can be easily in New York without causing any problems.

Bitcoin mining requires a lot of electricity to power dedicated hardware.

Mining Bitcoin With a Power Plant

Those electricity amounts have been a topic of substantial debate among researchers.

Most of those claims have been discredited, as they are not based on factual information.

Some companies don’t care too much about those papers and simply do their own thing.

Atlas Holding LLC, which runs a power plant in New York’s Finger Lakes region, is actively mining Bitcoin.

Thanks to roughly 7,000 mining units, the company generates 5.5 BTC per day.

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All of the electricity comes from renewable sources, and the power costs are predictable and low-cost.

With a power consumption of 15 megawatts, the operation is seemingly very efficient.

The power plant itself outputs 106 megawatts of capacity per day.

Since the plant only runs during times of peak demand, the “excess” electricity needed to be put to better use.

With the current Bitcoin price, this can be a somewhat lucrative operation.

However, later this year, there will be a block reward halving.

It will be interesting to see which miners will continue their operation from that point forward. 

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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JP Buntinx

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