cryptocurrency

Vespene Energy will use methane to safely extract BTC

A Berkeley-based startup known as Vespene Energy announced that she was going to Using methane gas emitted from landfills to power bitcoin mining rigs, thus adding more units to the blockchain through green and environmentally friendly means.

Vespene Has Big Bitcoin Plans

The world of bitcoin and cryptocurrency mining has come under a lot of criticism in recent years. There are many reports that cryptocurrency mining uses more energy than many countries, while others claim that it is likely to harm the planet in ways that will eventually become irreparable. Nor does it help when high-ranking individuals like SpaceX’s Elon Musk and Tesla’s fame stand by those who say bitcoin mining is harming Mother Earth.

About a year and a half ago, Musk announced that he would allow the purchase of Tesla cars with bitcoin. Everyone was somewhat excited, convinced that this would make the asset more popular and legitimate, but the hype was short-lived and soon after, Musk canceled the decision, saying he was concerned about how much energy was being used in BTC mining.

He later said he expects miners to be more transparent about what they are using and where their sources come from. Only then will bitcoin payments to vehicles be allowed.

Vespene recently earned more than $4 million with a new funding round from Polychain Capital. He stated in a statement that methane is more efficient at trapping heat than carbon dioxide, and that landfills are constantly flaring and burning, making them hot spots for methane. This gas can then be used to reduce mining costs and make the industry better for the atmosphere.

Adam Wright – co-founder and CEO of Vespane – said in an interview:

72 percent of U.S. landfills have no viable use of the gas they produce and, as a result, are either incinerated on site, solely for methane abatement purposes, or in many cases, that methane is already being emitted. into the atmosphere, so we can build a landfill with small turbines and use methane combustion to power them, then use the energy to mine bitcoin on site and send data via satellite.

Make things better for the planet

Vespane currently has a contract with a landfill located in central California, although at the time of writing, specific details have not been disclosed to the public. Follow Wright with:

Some of the big waste management companies are trying to electrify their fleets, and this is one way we can really speed up this transition. Normally, if you want to have a charging infrastructure to put in your fleet, you have to work with a tool to provide enough power for the chargers, which can be time consuming and expensive.

Tags: bitcoin mining, methane, Vespene energy

#Vespene #Energy #methane #safely #extract #BTC

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