Cryptocurrency news

Genesis Mining Will Use Heat Generation from BTC Mining to Heat Greenhouses

Genesis Mining Will Use Heat Generation from BTC Mining to Heat Greenhouses

Mining company Genesis Mining has announced the launch of a pilot project to use excess energy in bitcoin mining to heat greenhouses in the Swedish city of Buden.

Genesis Mining has created special mining containers that will be connected to the greenhouses through a ventilation system used to transfer excess energy. According to calculations carried out at the Luleå Technical University, a 550 kW container will be enough to heat a 300 sq. m. greenhouse even in the cold Swedish climate.

However, Andreas Johansson, a senior lecturer at the Luleå Technical University, said that the potential of these containers can be three times greater – with an increase in the capacity of the data center, the heat release from mining can heat an area of up to 900 sq. m.

The management of Genesis Mining reported that the project is in development for more than a year. It is aimed not only at the recycling of excess energy waste, but also at the development of the food and vegetable industry in the Swedish city of Buden. Mattias Vesterlund, Senior researcher at the network of research institutes in Sweden (RISE), explained that the 1 MW data center will be able to increase the independence of local vegetable markets by 8% due to the emergence of more competitive products.

In addition to Genesis Mining and its subsidiary Hashpower For Science, the project has received support from international ventilation and climate equipment manufacturer Systemair, Luleå Technical University, RISE, Boden Business Agency, and local governments. The CEO and co-founder of Genesis Mining, Marco Streng, said that the cryptocurrency industry is changing the world for the better, but this should not happen at the expense of the environment. Therefore, Strang hopes that the pilot project will be successfully tested.

Nils Lindh, Director of Data Center Development at Boden Business Agency, believes that this project will provide an opportunity to expand the local food industry and at the same time introduce sustainable energy consumption.

“This is a kind of effective symbiosis of different industries: cryptocurrency mining, food cultivation and production, as well as energy. In case of successful testing, the project can be used for large-scale commercial production, ” Lindh said.

Last year, Braiins researchers conducted a study comparing the energy consumption of bitcoin mining and mass video games. They concluded that in November 2019, video games consumed 46% more electricity compared to bitcoin mining. However, according to the Oak Ridge Institute of Ohio, in 2018, bitcoin mining consumed three times more energy than gold mining.