Critics of Bitcoin refer to it as a threat to the world’s environment and energy supply, because extracting this digital currency requires a lot of electricity. However, the infographic below shows that bitcoin is not only a threat to the world’s energy problem, but also a solution.
Why is Bitcoin a solution to energy shortages, not a problem?
1. Mining bitcoins with solar energy
The energy received by the earth from the sun every day is equivalent to the annual needs of all human beings. This endless energy can be utilized using concentrated and photovoltaic extraction fields.
Now that solar thermal energy cannot be stored, bitcoin mining is one of the best ways to prevent this energy from being wasted. This can solve the problem of energy shortage and its improper distribution in places where there is peak consumption.
۲. Extract bitcoins with wind energy
Humans have been trying for centuries to control some form of wind energy to use for sailing and milling wheat.
Since no effective way to store wind energy has yet been discovered, bitcoin mining is a solution to prevent this energy from being wasted. Wind turbines are so expensive that only profitable activities such as mining can justify their construction.
3. Extraction of bitcoins with water energy
In past centuries, humans used the energy of running water by irrigating using a water wheel. At present, we use this energy by using the dams, and the potential energy that arises as the water level in the dam rises.
Extracting bitcoins using water energy can be one of the sustainable ways to exploit running water energy. Countries with higher elevations than open waters and high rainfall have already begun to use surplus water energy to extract bitcoins.
4. Extraction of bitcoins using burner energy
When oil is extracted from the earth, natural gas is also associated with it as a by-product. Separating this gas from oil and selling it is not cost-effective, so it is burned. This phenomenon is called “burner”.
Countries like Canada have begun mining bitcoins. In this way, money can be made from gas that can not be stored in any other way, and thus the final price of fuel production for refineries is lowered.
5. Extraction of bitcoins using geothermal energy
In places with high volcanic activity, electricity can be generated using geothermal energy. In Iceland, 28% of the country’s electricity needs are met by geothermal energy.
Bitcoin mining uses geothermal energy to prevent the loss of energy hidden in the earth’s interior. Not only does this not harm the environment, but it also increases the use of this extraordinary blessing by generating value.
6. Heating homes using bitcoin mining
Bitcoin mining produces relatively stable heat due to the enormous computing power it consumes. Extraction devices can be used for this purpose, instead of spending money to provide the heat needed by homes in the cold season.
Innovative methods can be used to heat homes, schools, greenhouses and offices and prevent the loss of heat energy from bitcoin mining.