A life-size test for Bitcoin! – North Vancouver will be the first city in the world heated by Bitcoin by the end of 2022. The energy supplier Lonsdale Energy Corporation associates with MintGreen, a Canadian company specializing in green mining technologies. Together, they will provide residents with an innovative heating solution at low carbon emissions thanks to Bitcoin.
Bitcoin mining, an energy opportunity?
North Vancouver is a small town of 50,000 inhabitants located in British Columbia, near the border with the United States. It is home to around a hundred residential and commercial buildings attached to a hydronic energy system. Behind this barbaric word hides simply a hot water circulation system to transmit heat. However, this is produced via boilers running on conventional natural gas.
Since 2019, the city council has taken the issue of global warming to heart. The city has undertaken work to drastically reduce its CO2 emissions. Net zero by 2050! The goal is clear: get rid of natural gas and embrace green energy. To do this, it works together with its public energy supplier, Lonsdale Energy Corporation (LEC). Committed to this decarbonization process, LEC has already implemented certain geothermal and solar resources. However, they are constantly looking for innovation and are preparing in 2022 to add a string to their bow. the bitcoin mining.
LEC has decided to partner with MintGreen, a company specializing in bitcoin mining fromclean and renewable energies. The observation is simple. Their digital boilers should prevent 20,000 tonnes of greenhouse gases per megawatt (MW) of power from ending up in the atmosphere. Something to relieve a little our atmosphere already well cluttered with CO2.
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Bitcoin mining, towards an ecological transition?
Bitcoin mining is slowly making its way into the minds of companies in the energy sector. It must be said that the promise is beautiful. Digital boilers recover as heat over 96% electricity used for bitcoin mining. As long as the electricity in question is green, the opportunity is enormous.
Collin Sullivan, the CEO of MintGreen, explained that there was no way to green the bitcoin mining they do in partnership with BC Hydro. 97% of BC Hydro’s energy mix is hydroelectric. Harnessing this energy through mining already makes it green in itself. Reusing this same energy converted into heat makes the process even greener. The energy produced by hydroelectric dams is used twice!
Moreover, the bitcoin miners operate 365 days a year. They thus ensure a permanent source of energy for the North Vancouver district. LEC CEO Karsten Veng said:
“Being a partner of MintGreen on this project is very exciting for LEC, in that it is an innovative and competitive project, and it reinforces the path taken by LEC to support the ambitious goals of reducing greenhouse gas emissions. city greenhouse. »
Karsten Veng, CEO of LEC
For his part, Sullivan highlights the efforts of LEC and the City of North Vancouver in reducing CO2 emissions.
“The complex problem of climate change requires innovative solutions, and LEC, together with the City of North Vancouver, is showing remarkable leadership in environmental stewardship. »
Collin Sullivan, CEO of MintGreen
In a world where the environmental question is on everyone’s lips and policies are put in place to move towards clean energies, Bitcoin mining can appear as one of the solutions.
The United Nations climate report, published on August 9, 2021, warns of “extreme” impacts future climate change. Around the world, cities are tightening carbon regulations and taxes. Used properly, Bitcoin mining could enable the development and use of the greenest energy on the planet. A very concrete use case will be implemented by the company Conoco Phillips through the use of flare gas to mine bitcoin.
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