Bitcoiners are not only looking for ways to use mining in an energy-efficient way in the USA. Bitcoin is also used in the Netherlands – in a greenhouse. The Tulip Farm bitcoinbloem not only stands out from the competition economically, but also contributes to ecological sustainability.
Mining waste heat for tulip cultivation
The company uses the waste heat generated during the mining process to heat its greenhouses. According to tulip farm operator Bert de Groot by up to 20 degrees Celsius. How many devices are in the greenhouse is unclear. A request from BTC-ECHO has so far remained unanswered. The green electricity comes from the roof – from solar cells. This saves a lot of heating gas, explains Bitcoinbloem in a video contribution. This confronts the climate killer image that is still attached to Bitcoin: “We are reducing natural gas and using renewable electricity, which is better for the environment.”
An additional advantage of mining systems: financial independence. Due to rising energy prices and high inflation, parts of the competition had to step back or even file for bankruptcy. Bitcoinbloem, on the other hand, not only reduces costs but makes extra money. By the way, you can buy the tulips – with Bitcoin, of course.
Bitcoin and the Tulip Bubble
Bitcoin and tulips have an alleged similarity that also comes from the Netherlands: the tulip bubble. In the 17th century, one of the most well-known speculative bubbles in history arose. The trade in tulip bulbs reached a peak and prices rose enormously. There was a real hysteria about tulip bulbs as an investment. In 1637 prices fell dramatically, the bubble had burst.
Bitcoin comes into play more than 300 years later. Critics sense a speculative bubble here, too. That’s debatable. But one thing is certain: Some bubbles have already burst in the crypto sector, for example after the ICO hype or the NFT boom.
Nevertheless, the comparison between Bitcoin and tulip bulbs is flawed. After all, the cryptocurrency has repeatedly recovered from lows, while tulips have never been able to climb back to the exorbitant price levels of yesteryear.
This is how Bitcoin could drive the energy transition
Contrary to the opinion of many critics: Energy-intensive Bitcoin mining has the potential to help shape the energy transition. The thesis: Because mining systems can be switched on and off very flexibly, they are able to act as spontaneous buyers for surplus production. With them, the utilization of energy networks could not only be controlled better, but regenerative energies could become profitable more quickly thanks to the Bitcoin-related cross-financing.
What’s the truth behind the mining bulls’ arguments? You can find out in issue 71 of the BTC-ECHO magazine.
The latest issues of BTC-ECHO Magazine
You might also be interested in this