Re:Exxon Is Mining Bitcoin with Excess Gas
by chizhik-pyzhik on Thursday March 24, 2022 @04:46PM
(#30795135)
This is pretty cool. Cryptocurrency mining is a great use for "stranded" energy like this. Rather than just being burned off, it secures the distributed network.
[ Parent
| on HN ]
Re:Exxon Is Mining Bitcoin with Excess Gas
by jjtheblunt on Thursday March 24, 2022 @05:18PM
(#30795463)
is the value rewarded by mining greater than the value of energy spent during mining?
Re:Exxon Is Mining Bitcoin with Excess Gas
by chizhik-pyzhik on Thursday March 24, 2022 @05:44PM
(#30795691)
Yes, because in this case the value of the energy spent is zero- it would have simply been burned off into the atmosphere.
Similar concept as mining next to underutilized hydroelectric dams.