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The Best Travel Insurance Bitcoin "mining" has nothing to do with picks and shovels. Rather it refers to server farms where banks of computers solve complex math problems to process cryptocurrency transactions.
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Summer Energy “In the early stages of China’s mining industry, the cost of electricity wasn’t that important. As long as you had industrially priced electricity, you could mine,” explains Su Jiahai, head of mining at Bitmain, a Beijing-based company that owns several cryptocurrency mines in China, including the one we’re touring in Ordos.
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What links here 2.3 Arizona It’s much the same story in Grant County, which already has 10 commercial cryptocurrency mining operations, according to PUD spokesman Ryan Holterhoff. The utility at one point had 79 requests for new service, three-quarters of those from currency miners, amounting to 1,100 megawatts of power. Grant PUD’s average countywide load is 590 megawatts. An average load of one megawatt, Holterhoff adds, would provide service to 450 homes.
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