Putting the cr*p in crypto
UK-based outfit 4New company has raised cash for an initiative to use human waste to mine cryptocurrency. The company has just picked up a healthy $30m investment from Mirach Capital, which last year lit a $200m cryptocurrency fund.
4New leans on anaerobic digestion in its two plants in the northeast of England to convert the waste into electricity, which it has been pumping into the national power grid.
Now the company is looking to deploy the tech to pump energy to a cryptocurrency mining plant to deliver the likes of Bitcoin, Ethereum and Litecoin.
As 4New points out, cryptomining energy consumption growth is exponential. Citing recent research, is says that, at end-1Q18, one Bitcoin transaction consumed as much power as 30.5 US households for a day, a 500% spike since September 2017.
It adds, “Our free energy is consumed by an onsite mining farm enabling us to present a sustainable, viable and scalable solution to facilitate wide spread adoption of cryptocurrencies.
In Italy, medical cannabis firm Evolution Bnk is looking to build solar-powered greenhouses to house both marijuana growing and cryptocurrency mining operations.