As the price of Bitcoin explodes, so are people’s electricity bills. At this point, reports say bitcoin mining is actually causing blackouts in otherwise stable electricity grids around the world and is estimated to equal the current world demand for energy in just 3 years. Put another way: in 3 years, it is estimated blockchain cryptocurrency mining is going to demand yet another current world demand for energy. That’s 2x current world energy demand.
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Sustainable Bitcoin Mining is the Only Sane Option
Blockchain and cryptocurrency “mining” is simply put, work put towards solving a difficult math problem. The more blockchain is “mined” the harder the math problems become — and therefore, the more computing power is necessary to achieve the same results (a fully claimed “coin” or “token”).
Achieving a mined block becomes harder and harder and therefore demands exponential energy: the cash payout per unit of energy is a logarithmic function of the number of units mined times the bitcoin price.
When you factor in the number of companies jumping onto the bandwagon, the drive to produce the cheapest possible energy becomes not only abundantly, but immediately clear. Sustainable bitcoin mining is the only answer that will help meet energy demand for cryptocurrency mining without competing for current world output of energy.
Sun Fund is pioneering solar energy delivery and storage for blockchain miners. We’re also co-locating sustainable bitcoin mining operations with our renewable energy projects where that may be economically feasable. Profits from that, plus fees from our Producer-to-Investor platform which will bring renewable energy assets into a portfolio that will back the value of our planned cryptocurrency The Sunny.
Demand for renewable energy until lately has been tied to population growth and the ability to invest in green projects. But that story has changed: New drivers — pun intended — are increasing demand for renewable energy and storage.
Not only is population and all activity associated with populations growing, but there is also increasing demand for electricity at the same time legacy energy systems including fossil fuels are being displaced by solar.
That means everything that basically uses a rechargeable battery – from the smallest, wireless earbuds to Tesla’s fabulous new semi-trucks and backup battery storage for factories to big data and blockchain processing are poised to demand exponential amounts of electricity.
The price of bitcoin is floating all boats and is increasing a lot of interest around cryptocurrencies. But the energy demand for cyrptocurrencies may wind up floating more boats than intended due to the harmful effects of energy demand based in non-renewable sources resulting in ocean level rise from melting icecaps.
By investing in Sun Fund, you displace generic energy demand from fossil fuels, and there’s green for the environment and maybe even some green from your BTC mining operation.