Hi I am planning to set up a mining farm .Wanted to consult you regarding this.
Request more information - Which type of mining farm are your planning to start?
Anonymous replied:
A successful mining farm needs to have the following three :
1. Cheap electricity
2. Abundant internet bandwidth
3. Cold ambient climate.
You'll all the three in Kangra Valley and you'll also find me there :)
Ashish
9876061725
Hello, I am the founder of Smart Contract Labs and would like to respond to your request about the mining farm consultancy.
Contact me on: serban.victor@sclabs.ro
What about the problem that mining operations are using tremendous amounts of energy and therefore putting huge amounts of carbon into the atmosphere? As bitcoin grows and gets more valuable, doesn't that mean more miners and therefore, more carbon? What is the solution to all this?
In a "proof of work" blockchain like Bitcoin, this will be an ongoing issue. Renewable energy will help, but does not eliminate the energy consumption.
Brian Christie replied:
If you are doing a mining operation off-grid that is solely from solar, then perhaps you will be part of a solution. But in general, here's a detailed analysis that looks at the energy issue and it's pretty damning of Bitcoin and PoW crypto. https://www.ofnumbers.com/2021/02/14/bitcoin-and-other-pow-coins-are-an-esg-nightmare/ A key quote: "If you are an asset manager considering whether or not to include proof-of-work coins in your portfolio – and have an ESG mandate – or a policymaker considering whether or not to encourage the proliferation of these types of coins in your jurisdiction, it is pretty clear that PoW coins such as Bitcoin are an ESG nightmare and not a suitable fit. If and when some (or all) of these coins transition to proof-of-stake is beyond the scope of this article."