Cointelegraph reports that Immersive cooling technology could help in the transition to zero emission Bitcoin mining. Hass McCook, a member of Bitcoin Mining Council (BMC), told Cointelegraph.
McCook, also known online as Friar Hass, believes that the industry is on track for achieving the goal by 2030.
Immersive cooling is the process of submerging Bitcoin mining ASICs in a special cooling fluid that absorbs heat and recycles it. This method of Bitcoin mining improves productivity.
Riot Blockchain, a Bitcoin mining company, announced earlier this month that 200 megawatts worth of immersion-cooled Bitcoin mining infrastructure will be developed at its Whinstone Facility. According to preliminary results of its immersion-cooling tests, the company expects that hash rate will increase by 25% and ASIC performance to rise by as much as 50%.
Brian Roemmele, cohost of Around the Coin podcast posted a photo of a Bitcoin mining rig immersed in liquid on Twitter on October 29. He claimed that “by submerging Bitcoin miners in liquid heat and noise is reduced to 95% and can capture up to 40% heat and convert it to power.”
He said that “Bitcoin would be 100% green by 2024” and “No other system would be more green”.
McCook is not optimistic that Bitcoin will become carbon neutral.
He stated that he believes there will be zero emissions by 2030, but that 2024 seems a little ambitious. “And I believe that immersive cooling technology might be part the transition to green.”
He explained that sustainability means durability and not having to make as many items.
Immersive cooling is a great way to reduce the energy needed to cool mining rigs and save money on equipment replacements. McCook said that while it reduces the environmental impact of mining it also makes it attractive for miners.
“The move towards green Bitcoin mining will not be for environmental reasons. It will be to lower the cost base of miners to increase their profits.
He said that the main issue was whether miners used sustainable energy sources.
McCook stated, “The harsh truth is that when you plug in your equipment to the wall you get whatever it’s on the other end of that plug.”
“So, in order for Bitcoin to truly become zero emission, its underpinning grid must be zero emission.”
You can save up to $80 on your CAPEX by spending $50m on rigs and $10m on immersion. No brainer (except for the brainless) The future is immersed https://t.co/qpt4Dwq0KK
— Friar Hass (@FriarHass) October 28, 2021
Continue reading: Bitcoin is going green faster than ever!
Bitcoin is moving closer to a sustainable future. The Bitcoin Mining Council has revealed that North American members are using electricity with a 65.9% renewable power mix.
The BMC stated that “Based on these data, it is estimated the global mining industry’s sustainable electricity mix had increased to approximately 57.7% during Q3 2021,” an increase of 3% over Q2 2021. This makes it one the most sustainable industries worldwide.
Michael Saylor, Microstrategy CEO, stated that “this quarter we saw dramatic increases in Bitcoin mining energy efficiency and sustainability due to advances to semiconductor technology, North American mining’s rapid expansion, the China Exodus and global rotation towards sustainable energy & modern mine techniques.”