Miner MintGreen partnered with North Vancouver Energy Services Company to create an innovative clean energy heating system.
The city of North Vancouver, British Columbia, is becoming the first in the world to harness the heat generated by mining bitcoins to provide heating to its inhabitants.
According to a statement, the cryptocurrency mining firm MintGreen you are working with the city’s energy services company, Lonsdale Energy Corp. (LEC), to create renewable and clean energy available to the city through extraction operations of Bitcoin. ANDl executive director of MintGreen, Colin Sullivan, commented that the initiative represents a novel solution to the challenges posed by climate change.
The complex issue of climate change requires innovative solutions, and LEC, with the city of North Vancouver , is showing tremendous leadership in environmental stewardship.
The “patented digital boilers” from MintGreen recover more than 96% of the electricity used for mining bitcoins in the form of thermal energy that can be used to heat communities in a sustainable way, as well as to serve industrial processes, the firm said.
100 buildings powered by Bitcoin heat
In an interview for CoinDesk, Sullivan explained that lThe company uses a technology of “immersion“Which captures the heat generated in mining and is redirected to hot water companies known as”District EnergyWhich is then distributed to customers.
The digital asset manager CoinShares, that He participated in an initial investment round of MintGreen at the beginning of the year, there were indicated at that time that the system of “immersion”From the mining firm captures and transfers the heat generated by cryptocurrency mining servers to industrial-scale hot water utilities.
With cryptocurrency mining equipment operating at full capacity 365 days a year, the company will be able to provide heating to a complex made up of a total of one hundred residential and commercial buildings in North Vancouver. The clean heating solution will supply a population of more than 50,000 residents of the town.
The buildings sector currently accounts for 40% of carbon emissions in urban areas, but the district’s energy creates an opportunity to reduce the urban carbon footprint through the integration of innovative new technologies, he said. MintGreen in the statement.
The new heating system powered by mining Bitcoin it will prevent 20,000 metric tons of greenhouse gas per megawatt from entering the atmosphere compared to natural gas, according to the statement. The novel heat source will be fully introduced into the district’s power system by 2022.
An innovative solution
The Canadian city, known for its mountainous climate, has been directing efforts towards decarbonization to implement more renewable and clean energy, moving from the use of conventional natural gas.
In 2019, the North Vancouver City Council passed a motion for the city to increase its greenhouse gas reduction targets to achieve net zero by 2050 and reduce emissions by 80% by 2040. Now, with the new alliance, the city plans to take advantage of mining Bitcoin as a source of heat to achieve that goal.
“Being a MintGreen partner in this project is very exciting for LEC as it is an innovative and cost competitive project and reinforces the path that LEC is on to support the City’s ambitious greenhouse gas reduction goals.“, Commented on the matter Karsten Veng, CEO of the local energy company.
The use of heat generated by mining Bitcoin it is not something new; and in fact in Canada there are other similar initiatives. As reviewed CoinDesk, a small farm located in the town of Neuville, Quebec, also harnesses the heat of crypto miners to counter the icy winds of winter. Le Caveau à Légumes has been running the crypto mining initiative since 2018 as a way to offset high electrical costs.
Hannah Estefanía Pérez’s version / DailyBitcoin
Image from Unsplash