Hello everyone, I lost a bit, but I showed up again, I'm telling you ... I was doing a bit of Internet research on bitcoin, we know that it's one of the cryptocurrencies that has caused more sensation lately and I found this peculiar information about the impact that has the same mining in Iceland!
The mining of bitcoin is experiencing a real boom in Iceland and the utilities are worried about not being able to meet the demand of the new cryptocurrency mining companies.
The cold climate of Iceland, the cheap energy and the ultra-fast internet connections have turned the small country into one of the preferred destinations to mine cryptocurrency.
Some members of the Government of Iceland have proposed to tax the profits obtained by the bitcoin mining companies.
Iceland could soon start allocating more electricity to mine bitcoin than that consumed by all households in the country, says an Icelandic energy expert.
The energy used by the Icelandic bitcoin mining market is experiencing "exponential growth", so data centers in the country could consume more energy than all Icelandic households in 2018, explains the BBC expert. Icelandic energy company HS Orka Johann Snorri Sigurbergsson.
Sigurbergsson also assures that HR Orka "will not have enough energy" to ensure the supply of the numerous data centers that are expected to open in the country.
Bitcoin mining is the process that occurs when computers within a chain of blocks verify bitcoin transactions on the basis of the resolution of complex mathematical problems and, in return, receive bitcoins as a reward.
Sigurbergsson assures the BBC that, according to his calculations, the cryptocurrency mining in Iceland is around 840 gigawatt-hours of electricity per year to power the necessary computers and cooling systems. By contrast, households in the country consume around 700 gigawatt-hours.