New Project to Tackle Crypto Energy Crisis by Generating Electricity Through Waste
Katharine Sharpe | February 23, 2018 | Coin Telegraph
With Bitcoin’s skyrocketing market, concern shifts toward supplying the massive amount of energy needed to support this expansion. One company, 4NEW, is looking to make mining more sustainable by producing their own renewable energy using waste. Revenue from waste collection and byproduct sales will be used to fund privately handled renewable energies (as opposed to traditional farms which often utilize coal), with coin holders being able to use this energy within 4NEW’s mining farms, or sell it directly to the grid at their own fixed prices. At its current rate of increase, cryptocurrency operations are expected to use more energy annually than countries such as Peru and Hungary, so finding a sustainable source is becoming increasingly necessary. -AA
Note: Last week's Power Surge referenced Iceland's Bitcoin energy crisis.
New England Has a Power Problem
Erin Ailworth and Jon Kamp | February 23, 2018 | The Wall Street Journal
While residents of New England states support the incorporation of clean energy into their electric grid in theory, building the necessary infrastructure has proven to be a challenge. Offshore wind has taken off in Europe, but Cape Wind, the first proposed offshore wind project in the U.S., was cancelled late last year because residents feared disruption of the landscape and fishing grounds. Plans for a natural gas pipeline connecting New England with Pennsylvania, which is experiencing a fracking boom, were abandoned in 2016. The Northern Pass Power line, which would bring Canadian hydroelectric power to the region, was the latest attempt to prop up the populous region’s aging electric grid. However, a New Hampshire regulatory committee rejected its portion of the project this month. -AD