Getting rid of a hefty electric bill which typically weighs down mining operations leaves more room for.
Solar panel bitcoin mining.
The use of solar panels is becoming more cost effective than standard electricity.
According to the authors the study shows that most bitcoin mining occurs in global regions containing available sources of renewable energy.
They said the power consumption of their s3 antminer was actually being offset by the power of the sun s energy thanks to their solar panels.
Less risky and more profitable than selling to the grid the energy used to mine bitcoin has long caused debate over whether it s a wasteful process.
Bitcoin mining with solar.
Once you have paid for the solar panel system itself the cost of mining is virtually free.
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Moreover the report highlights that about 80 percent of mining is powered by renewable energy.
As the arguments have rumbled on some people have been focused on mining coins with renewable energy.
Renewable energy to power the cryptocurrency revolution.