(TNS) – At a meeting of commissioners last month,
“I think the zoning
Cryptocurrency mining operations, which are a type of digital asset recovery, use huge amounts of energy.
The county pushes the
“We are committed to using 100% clean electricity in our
‘A global crisis’
The topic was discussed at many county meetings for years, which ultimately led to the formation of the Cryptocurrency Zoning Project. The orders they helped develop have been in the works since 2018, when they began to thoroughly research the subject.
At the start of the process, five major topics concerning mining operations were discussed: electronic waste, noise, climate impacts, fire safety and the impacts of the public electricity network.
The latter two eventually lost their importance as concerns around them faded.
The county worked quickly on some basic proposals and
Given the county’s broader targets for energy consumption, climate impact has become a major focus. Burning fossil fuels releases carbon dioxide into the air, contributing to Earth’s climate change.
“Climate change is a global crisis that we must resolve and we simply cannot turn a blind eye to these impacts on our communities which could lead us in a different direction from an energy use perspective,” Strohmaier said.
When the provisional energy rules have entered into force,
Energy Keepers recently entered into an agreement with
The county argued that the laws were not aimed directly at
Cryptocurrency miners are rewarded for their energy investments because they use a lot of electricity.
The basic process of mining digital currency involves having a special type of computer try to solve what is essentially a combination of random numbers that helps provide a layer of security for crypto transactions. change.
Operators around the world are trying to update the register of all transactions for a cryptocurrency. The fastest to solve the problem and update the global ledger is rewarded with a piece of digital currency.
To obtain it, minors must have proof of work.
“The proof of work, what you prove to be part of the system is that you have invested a lot of money in the form of computational capacity and most importantly energy to be part of the system,” Maneta said. “The fact that it’s so power hungry isn’t exactly like a side effect, the whole point of the proof of work system is to show that you put a lot of energy into it.”
Replacement machines and upgrades to better machines were also issues. These new permanent
As part of its commitment to fight climate change, the electronic waste generated must be recycled through a
Noise was another issue, which was discussed at length in July 2018. The
Under the new zoning laws, facilities can only be present in light industry and heavy industry districts.
Regarding the last two points, it was best understood that large cryptocurrency miners rarely overtax machines to the point of overheating, Maneta said.
Utility companies the county has worked with, including
The county took a deep look at fires caused by overheating machinery and even considered fires caused by overtaxed transformers and other parts of the power grid that may have had the potential to spark.
Driven by cheap energy
If a new cryptocurrency mine will settle in
Cheap energy is the main reason cryptocurrency operations have flocked
One of the most commonly mined currencies is Bitcoin, which is currently worth around $ 56,257 per Bitcoin. A year ago this time, a Bitcoin was worth around $ 7,000. Bitcoin also peaked in December 2017 at around $ 19,000, which sparked much of the original conversation about the need for tighter zoning regulations.
“As the price of Bitcoin increased, mining became more lucrative, it became more competitive and people started doing it on a larger scale,” Maneta said. “They started to realize, ‘Hey, if I got to a place where the electricity is really cheap and, oh the climate is cool, because otherwise my computer is going to overheat, then I can make a lot of money by doing it. doing that. ‘ ‘
Other areas in
If another operator came to
“We’re probably not the first place people think of to call, although we do have an important place in the licensing process,” Dixon said. “So it’s a good idea to call and find out what the zoning requirements are.”
Maneta added: “We spoke with several people who were considering mining cryptocurrency in the county and they had questions on how to make sure they understood what the county regulations entailed and we got them. spoke in particular of renewable energy requirements.
“So we have discussed at length and provided a lot of information about these to people who are considering doing so.”
(c) 2021 Missoulian, Mont. Distributed by Tribune Content Agency, LLC.
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