SOLAR ENERGY AND BITCOIN EXPLOITATION

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It is a well-known fact that bitcoin mining consumes tremendous energy. Many people don't realize the global cost of running Bitcoin networks, with electricity costs millions of dollars every year. Some believe that this has led to a concentration of miners in countries with significantly cheaper electricity, such as in China. It is said that mining has also led to larger establishments leading the race for bitcoin mining, while smaller mining companies are often pushed out of competition. However, some individuals have sought to compete by compensating for electricity costs by using renewable energy sources.

SOLAR ENERGY AND BITCOIN EXPLOITATION

There have been a number of miners over the years who have harnessed energy from the sun to fuel their mining operations. Solar energy is a technique that uses light to generate electricity and is used by people by electrical equipment since about 1880. Many people have harnessed solar constructions, when discussing about miners using solar energy to exploit can start from a few individuals applied since 2012 and more popular in the following years when they discuss online with each other

On July 1, 2012, a conversation on the forum Bitcointalk.org showed that some miners were mining bitcoins with solar energy.

"I have a solar power network at 1.7kw, where I am, it's a mining town in Lightning Ridge." You can't run one. GPU farms in an economical way, but FPGAs work well. I get 1.5GH / sec at 100w from FPGAs and 350MH / sec at 100w from GPU. I also have wireless internet, so I'm not connected to any form of electricity.

In 2013 a bitcoin enthusiast started an interesting conversation when he published a guide to building a solar mining plant. Throughout the article, a few other individual bitcoiners show they also use solar energy for mining. However, many of them claim that some of the initial costs of buying or building solar panels to mine bitcoins can be expensive and people have to wait to achieve a return on investment.