Cryptocurrency has been a hot topic in recent months. With fears of inflation and an impending economic recession, people are looking for other ways to secure their money. Cryptocurrency has come a long way in a short time, with the most popular, Bitcoin, being released only 12 years ago.
What is Bitcoin?
According to Wikipedia:
Bitcoin (â¿) is a decentralized digital currency, with no central bank or single administrator, which can be sent from user to user over the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes via cryptography and recorded in a distributed public ledger called a blockchain.
The people who âkeep recordsâ on these blockchains are called âminorsâ. Bitcoins are a reward for people who use giant computer processors to track transactions. These “mining” operations have recently been criticized by environmentalists for the massive amount of energy required to mine cryptocurrencies. A cryptocurrency company is considering a greener approach to “mining” and it is considering Montana.
Cryptomining in Montana
When it comes to mining, we here in Montana immediately think of the town made famous by mining: Butte. But, what they dug out of the ground has now been turned into computer chips and processors. Now it looks like Butte won’t have to go underground to seek his fortune. They just need to pray for the sun.
Montana Standard reports that a cryptocurrency mining company named Atlas Power is supporting a multi-million dollar project to create a 1,600-acre solar panel known as the Basin Creek Solar Project. This solar energy project claims to produce enough energy to power 40,000 homes. But, with just 15,000 homes in Butte, there will be enough power left for a giant crypto data center.
What would Montana miners think
If only the miners of the past could see that all that copper and gold they unearthed would end up creating 700,000 solar panels powering buildings full of giant computers.
This could be a turning point for energy in Big Sky Country. Montana currently ranks 43rd in the country for solar production.