Mining bitcoin is often a very costly endeavor. Not only is the hardware rather expensive to purchase, but the mounting electricity costs add financial strain to anyone’s budget. One bitcoin miner has found a solution for this problem, by effectively powering his Antminer S7 with renewable energy. The solar mill used in the video is quite intriguing, to say the least.
Renewable Energy for Bitcoin Mining Purposes
It is only a matter of time until people who mine bitcoin at home will shift towards more energy-efficient solutions. Using regular electricity to generate bitcoin often leads to paying more money than is being earned in the process. Some countries are an exception in this regard due to very cheap electricity. For the rest of us, renewable energy may be well worth looking into.
In the video below this article, we see an intriguing bitcoin mining rig. The user mines bitcoin with an Antminer S7, which is by far the most energy-efficient miner bitcoin enthusiasts can buy today. Its hashrate/energy consumption rate is stellar, which is why this device has become so popular among bitcoin miners all over the world these past few months.
Powering this particular mining operation is none other than a solar mill. As the name suggests, such a solar mill generated solar energy, but with a slight twist. In fact, this particular device absorbs both solar energy and wind energy at the same time, making it a rather unique hybrid concept. Although these mills advertise users can generate up to 1.2 kilowatts, the miner in question admits that is rather unfeasible. Then again, this heavily depends on where the device is placed, to begin with.
This concept goes to show renewable energy sources have their place within the bitcoin mining ecosystem. As the mining difficulty continues to increase, more electricity – and more efficient hardware – will be needed. Using renewable energy takes a load off the power grid and creates exciting new business models. While not everyone will install a solar mill at home, the concept has quite a lot of potential, to say the least.
It has to be said, this entire ordeal is also made possible due to the Antminer line of hardware being incredibly power efficient. While the S9 is even better compared to the S7, it goes to show even previous generations of bitcoin mining hardware can be turned into viable solutions with alternative energy sources. Hybrid systems such as the solar mill require quite a significant upfront investment, though, and the device is only available to consumers within the US for now.
Considering how large-scale mining farms are moving to hydroelectric power as of late, consumers will make the shift to solar and wind energy in the coming years as well. Devices such as a solar mill require no government approval to be purchased or used, although doing so will be the sole responsibility of the consumer. All things considered, this is an intriguing example of how bitcoin mining can be innovated and invigorated.
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