Vespen Energy will use methane to safely mine BTC
Categories: Crypto News
Vespen Energy willuse methane to safely mine BTC
The world ofbitcoin and crypto mining has come under heavy criticism in recentyears. There are several reports that mining digital currency uses moreenergy than in many countries, while others claim that it can harm the planetin a way that will eventually become irreversible.
It alsodoesn't help when high-ranking individuals like SpaceX's Elon Musk and Teslaof fame are at odds with those who say bitcoin mining is harming Mother Earth.Musk announced about a year and a half ago that he was going to allow Teslavehicles to be bought with bitcoin.
Everyone wasexcited, convinced it would make the asset more mainstream and legit, but thehype was short-lived, with Musk rebutting the decision, saying he was concernedabout how much energy was being used in BTC mining. . Vespene recently raisedover $4 million through a new funding round from Polychain Capital.
It noted ina statement that methane is far more efficient at trapping heat than carbondioxide, and that landfills constantly erupt and burn, making them hotspots formethane. This gas can be used to reduce mining costs and make the industrybetter for the environment. Vespen currently has a contract with alandfill located in central California, although at the time of writing.
The specificdetails have not been disclosed to the public. Wright continued some of the bigwaste management companies are trying to electrify their fleets, and this isone way we can really accelerate that transition. Generally, if you want to geta charging infrastructure for your fleet, you'll need to work with a utility toprovide enough power for the chargers, which can be time-consuming andexpensive.