Clean energy crypto mining: Cryptocurrency and its underlying technology, the blockchain, can be a difficult concept to grasp by most individuals. However, when cryptocurrency grasped mainstream attention back in the second half of 2017, many major companies around the globe started to research the blockchain and how it could be used in their current structures.
HIVE Blockchain Technologies (TSXV:HIVE) was founded by the Foire Group and Genesis Mining back in 2017. The two combined to form HIVE and make the largest publically listed blockchain infrastructure company, raising $115 million in funding to date.
HIVE Blockchain operates various cryptocurrency mining facilities around the globe.
HIVE’s CEO, Harry Pokrandt, spoke to Forbes about his company’s mining activities and said:
“At HIVE, we own several cryptocurrency mining farms, which are large data centers filled with thousands of computers all working to confirm the transactions taking place for various cryptocurrencies such as Ethereum and zCash […] By combining the technological expertise of Genesis Mining and the HIVE team’s understanding of the capital markets, we offer a unique way for investors to gain exposure to the cryptocurrency markets by investing on the core blockchain infrastructure that powers them.”
HIVE Goes Green
There have been many reports in the news that cryptocurrency mining consumes a large amount of energy, but HIVE operations are specifically powered by 100% clean energy at both of its mining locations. HIVE currently holds operations in both Sweden and Ireland.
Just recently, the company produced a 360 degree VR tour inside one of their mining facilities.
This video was produced to educate individuals who may not understand cryptocurrency mining and the blockchain, but it is also geared towards the company’s current investors. HIVE’s video showcases how the company uses green energy for its operations.
As the cryptocurrency industry matures, energy efficient mining facilities will become a critical component in powering the new decentralized economy.
What do you think about clean energy crypto mining?
>> What’s Been Going On with Block X Capital Corp?
Featured Image: Facebook
