Bitcoin mining is a hot topic in this cold country as it is reported by the BBC that Bitcoin energy use in Iceland set to overtake homes.
A spokesperson for Icelandic energy firm HS Orka has said that Iceland is facing an “exponential” rise in Bitcoin mining that is gobbling up power resources and that electricity use at Bitcoin mining data centers is likely to exceed that of all Iceland’s homes, according to Johann Snorri Sigurbergsson in 2018.
He told the BBC: “If all these projects are realised, we won’t have enough energy for it,”
Full story: – Bitcoin Energy use in Iceland set to overtake homes
What is Bitcoin mining?
Bitcoin mining is the process of adding transaction records to Bitcoin’s public ledger which is called the Blockchain as it is a chain of blocks… but to understand this process a lot easier, watch this short explainer video… Bitcoin Mining demystified!
For a more detailed explanation: – How to Bitcoin – Mining
Download the free Bit-Media App from the Google Play or Apple stores.
Click below and get your FREE BIT-MEDIA APP
Please leave your questions and comments below:
Introducing you to the Embedded Vault
Turn your computer into a secure, encrypted hardware device
Download Embedded Vault here
What is EOT – Encryption of Things?