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Canadian city becomes first to heat buildings through Bitcoin mining

Nihal Krishan

North Vancouver announced Thursday it would become the world’s first city to be heated almost entirely by bitcoin mining, an innovative way to tackle climate change by creating valuable cryptocurrency coins and usable thermal energy at the same time.

The city energy utility company is teaming up with MintGreen, a Canadian cleantech cryptocurrency miner, to create renewable and clean energy for the city by mining for the popular digital coin using their proprietary “Digital Boilers,” which recover more than 96% of the electricity used for bitcoin mining in the form of heat energy.

In Bitcoin mining, high-powered computers are used to verify virtual coin transactions. Bitcoin operates on what is known as a blockchain, essentially a public ledger, that contains the history of every transaction. The miners’ computers solve complicated math problems in order to add new blocks to the chain and are in turn rewarded with the digital token, making the endeavor profitable.

https://news.yahoo.com/canadian-city-becomes-first-heat-183200961.html?guccounter=1

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