BlocksInform
Kryptovault takes opponents of mining out of the park with its sustainable operation which helps to put the Norwegian hashrate at 0.3% of the world's computer growl.
KryptoVault is helping the sustainable forestry industry in Norway by drying logs in four hours what would take the sun two to three months using heat generated from bitcoin mining, and is planning to dry seaweed in the upcoming months. The heat at honesfoss is channeled into twelve skips by corrugated pipes to dry the damp wood.
The sustainability of kryptovault's operations goes beyond helping local industries and individuals. Their installation in honesfoss runs only on hydropower to support the bitcoin network on which millions of people rely, some in countries where unemployment levels are high, some in unbanked sections of the population, and yet others for whom traditional cross-border remittances are impossible. Two other sites operate on hydroelectricity.
Their 5,000 square metres (53,820 square feet) are home to pro-antminers19 machines, which are three times more energy efficient than their older counterparts, the s9 units. The facility also benefits from custom soundproofing that reduces its contribution to noise pollution due to the multiplicity of cooling fans. The cost of sound insulation?1.5m. if standing outside the warehouse, the fans can hardly be heard running.
Transparency is the key to business.
Billionaire Mike Novogratz, a digital assets’ company owner, recently launched a sustainability initiative on energy utilization and social responsibility. He wants to change the story around bitcoin extraction being bad for the environment. It was a breath of fresh air from an industry that has not been very transparent about its energy usage.
New website for the old ones.
Temperatures can still exceed 55 C, despite the plethora of cooling fans. When older machinery is considered, such as antminers9 machines, will be deployed at a site located north of honesfoss, the heat produced will be even greater, this opens up better prospects for assisting other industries. The cost of standard electricity in northern Canada is also lower. CEO kjetil hove pettersen says that exploiting the excess heat generated is similar to the way el salvador uses geothermal energy from volcanoes.
Alex Gladstein, chief strategy officer at Human Rights Foundation, visited the Honesfoss facility recently and tweeted, “The vision that Kjetil and team have for supporting local business is fresh and inspiring.”
