AUSTRAILIA - Old power plant locks up again - for Bitcoins - Cryptocurrency Reporters - A Light To Cryptocurrency World

Saturday, 14 April 2018

AUSTRAILIA - Old power plant locks up again - for Bitcoins


AUSTRAILIA - Old power plant locks up again - for BitcoinsOld power plant locks up again - for Bitcoins In fact, Singleton's Redbank coal-fired power plant in Australia has been shut down in 2014 due to environmental concerns - identified as the largest CO2 sinner among all Australian power plants in 2007. At the beginning of 2019, however, it will go online again. The reason: investors want to produce cheap electricity for the bitcoin industry.Blockchain center directly in the power plant The plan of the two partners: They want to open a "blockchain center" in the power plant - in which Blockchain is the decentralized database technology behind the Bitcoin - which is to be supplied with cheap electricity from the power plant, which is expected to go online in early 2019 , Bitcoins could be mined in the center, but other blockchain applications could be run as well.Competitive - Right now the Bitcoin scene is concentrating on North China, where you also have very cheap electricity from coal power available - you want it to be particularly low electricity prices. When the Redbank power plant back on the grid, they want to sell the electricity produced there - or at least a significant part of it - at wholesale prices, about 20 percent below the usual market price, to blockchain companies. via /r/Bitcoin https://ift.tt/2HyMSgN

Old power plant locks up again - for Bitcoins In fact, Singleton's Redbank coal-fired power plant in Australia has been shut down in 2014 due to environmental concerns - identified as the largest CO2 sinner among all Australian power plants in 2007. At the beginning of 2019, however, it will go online again. The reason: investors want to produce cheap electricity for the bitcoin industry.

Blockchain center directly in the power plant The plan of the two partners: They want to open a "blockchain center" in the power plant - in which Blockchain is the decentralized database technology behind the Bitcoin - which is to be supplied with cheap electricity from the power plant, which is expected to go online in early 2019 , Bitcoins could be mined in the center, but other blockchain applications could be run as well.

Competitive - Right now the Bitcoin scene is concentrating on North China, where you also have very cheap electricity from coal power available - you want it to be particularly low electricity prices. When the Redbank power plant back on the grid, they want to sell the electricity produced there - or at least a significant part of it - at wholesale prices, about 20 percent below the usual market price, to blockchain companies.

Old power plant locks up again - for Bitcoins In fact, Singleton's Redbank coal-fired power plant in Australia has been shut down in 2014 due to environmental concerns - identified as the largest CO2 sinner among all Australian power plants in 2007. At the beginning of 2019, however, it will go online again. The reason: investors want to produce cheap electricity for the bitcoin industry.Blockchain center directly in the power plant The plan of the two partners: They want to open a "blockchain center" in the power plant - in which Blockchain is the decentralized database technology behind the Bitcoin - which is to be supplied with cheap electricity from the power plant, which is expected to go online in early 2019 , Bitcoins could be mined in the center, but other blockchain applications could be run as well.Competitive - Right now the Bitcoin scene is concentrating on North China, where you also have very cheap electricity from coal power available - you want it to be particularly low electricity prices. When the Redbank power plant back on the grid, they want to sell the electricity produced there - or at least a significant part of it - at wholesale prices, about 20 percent below the usual market price, to blockchain companies.

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