Bitcoin miners often place themselves where there is cheap energy. In many places they set up where hydro is the main source—and they suck up energy generated during times when it goes to waste.
While the miners are “appearing” to suck up to the “eco guys” in reality, they are doing it because its cheaper.
If you are building your own solar and wind...you are not relying on the extended grid. And, in my area for instance, the cost of the energy makes large scale operations almost impossible without supplementing the commercial source with some sort of renewable.
But yeah...energy use is one of the bugaboos that Liz Warren and her ilk through at crypto—after money laundering and criminal activity. (Of course, that $20 bill in your pocket probably has seen more cocaine than the bitcoin in your wallet. ha ha.)
Just as an FYI. If anyone is interested in what bitcoin mining is all about, here is a link to a decent summary.
https://www.investopedia.com/tech/how-does-bitcoin-mining-work/
Not trying to sway anyone’s opinion...but some folks might want a primer on this stuff.
I’m in no wise a fan of paper money. However, bitcoin is like paper money without the paper. When the electricity goes off, you’re left with nothing.
I read some months ago about how these gangs of Chinese dudes - some of them clearly not even knowing what cryptocurrency is - buying up large tracts of rural property in desolate places in Montana, Idaho, etc., because property and energy are both cheap - UNTIL they start a bitcoin mining plant. Then local farmers/ranchers/residents will start having power outages, etc. Local power co-op hustles to dig more trenches and hang more wire. Expect energy prices to go up then. Also property will become more expensive, because where there’s one cryptocurrency mining operation, you can bet there are going to be more.
Suddenly there are all these guys hanging around who seem like they don’t have jobs. It’s a big old party, day and night. There’s a noise that becomes constant, louder and louder. I guess - from what I’ve been able to piece out - it’s the fans they have to use to keep the machines cool.
I know the rural area I live in has seen quite an impact. And these guys are so snide about what they’re doing, like they’re some sort of aristocracy. (Criminals are always like that, though.)
It kinda looks like a scam, Earl.