Johann Snorri Sigurbergsson, a business development manager at the energy company Hitaveita Sudurnesja, said he expected Iceland’s virtual currency mining to double its energy consumption to about 100 megawatts this year. That is more than households use on the island nation of 340,000, according to Iceland’s National Energy Authority.

    “Four months ago, I could not have predicted this trend — but then bitcoin skyrocketed and we got a lot more emails,” he said at the Svartsengi geothermal energy plant, which powers the southwestern peninsula where the mining takes place.

    “Just today, I came from a meeting with a mining company seeking to buy 18 megawatts,” he said.

Full disclosure: 18MW is chump change. That's two of these.

TIL I've worked on projects that use more power than Iceland.


coffeesp00ns:

    Full disclosure: 18MW is chump change. That's two of these.

It helps that they're able to heat and get hot water for their homes from the hot springs there. Fun fact, in older houses the water has a mild sulfur smell because it comes from some of the more mild hot springs, but newer houses don't because they use fresh water that has been heated by even hotter springs.


posted by kleinbl00: 188 days ago