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  • Writer's pictureJaime Ventura Energy Consultant

CRYPTO MINING CONTROVERSY

Updated: Mar 5

SHOULD WE THROW OUT THE SOFA?


Crypto Mining Controversy solved by Integration Coefficient IC

There was a couple who had a favorite sofa. They loved spending time on it, cuddling, and watching TV. One day, one of them found out that their partner was cheating, then devastation feelings arose. After that, they tried to figure out how to solve the problem, but every time they sat on the sofa, they were reminded of the betrayal, getting the situation worse by time. Eventually, they decided to get rid of the sofa, thinking that it would help them move on and forget about the past. Of course, they finally split.


This situation can be compared to the current debate surrounding crypto-currency mining and its high energy consumption. Critics argue that crypto mining industry is extremely detrimental to the environment, as it contributes to a high emission of CO2 by using a lot of energy. These critics are calling for an immediate end of mining, much like the couple who decided to get rid of their favorite sofa.


However, there is a solution to this problem that doesn't involve “getting rid of the sofa”. The answer lies in our Integration Coefficient IC model, which can help promote the use of renewable energy sources in mining by using digital communication ecosystems, factories integration and unified guarantee.


Using hybrid solar system with solar panels and LIFEPO4 batteries, the energy consumption of mining will be significantly reduced as well as the emissions. This solution can be implemented globally, and it has already been proven to be effective in many mining processes worldwide.


For example, a mining company in Australia has recently installed a 12.5 MW solar farm to power their operations, which has resulted in a 20% reduction in energy costs decreasing CO2 emissions. In addition, a Chinese mining company has built a solar-powered farm that generates 3.8 Mega-kilowatt-hours of electricity per year, enough to power 1,000 homes in the same period.


These initiatives show that the integration of renewable energy sources into mining operations is not only possible but also beneficial. With the help of the IC model, mining companies can switch to renewable energy sources and reduce their environmental impact.


In conclusion, the story of the sofa can teach us a valuable lesson about problem-solving. Just like the couple who got rid of their favorite sofa, the critics of cryptocurrency mining are focusing on the wrong problem. Instead of calling for an end to mining, we should focus on finding solutions that promote the use of renewable energy sources, such as solar.


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