War is breaking out in Washington state. A very civilized war, based mostly around numbers...numbers of megawatt usage...and hydroelectric dams.
Enter East Wenatchee, a city in the Columbia river valley-region of Washington State. Owing to an abundance of hydroelectric power thanks to the aforementioned river, megawatt-hour rates are very affordable in Columbia. Affordable enough to have been attracting miners almost since the beginning of the Bitcoin mining boom.
As reported by Politico, power devoted to commercial miners is already sucking up 30 megawatts a day, or as much as 13,000 homes. Politico further goes on to predict that by the end of 2018, this are in Washington could account for between 15% and 30% of all worldwide Bitcoin mining.
Politico related an amusing anecdote where foreign (Asian) "businessman" on some sort of "tour" of the hydroelectric dam requested to speak with the "dam master" so they could arrange "buying some electricity."
As I reported last week, power-related squabbles pertaining to Bitcoin mining are only increasing as of late. Shared power resources are a bit like a "take a penny, leave a penny" tray - and Bitcoin miners have found how to take most of them while not leaving any. Call it a loophole, or against the "spirit" of public utilities - but until something legal is changed, this is really no different than you deciding to power a pointless collection of electronic collectibles. The only real difference is that these "power seekers" are engaged in a profitable venture, as opposed to simply wasting their energy on hot tubs and outdoor track lighting.
I'm sure that won't prevent the creation of new "regulations" to control these entrepreneurs. We wouldn't want anyone experiencing any upward financial mobility, now would we?
We also have a Radio Station! (click me)
...and a 10,000+ active user Discord Chat Server! (click me)
Sources: Google, CoinTelegraph, Politico, ZH
Copyright: Politico, Live Bitcoin News, Bloomberg
not very profitable when the price is this low
depends on how you do it.
mine, HODL and when prices rise into profit sell.
Ya mine too but it still feels a lot better when the price is higher
I work for a power company in Washington, I’m a High Voltage Lineman. Bitmain has contacted us and wants 30 megawatts. We are just waiting for them to sign the contract. Also another mining company wants to lease 3 arces and they want another 10 megawatts.
Bitmain wants a total of 200 megawatts but we are u sure how to get that to them.
We need more POWER!!
I'm glad to here that some are treating this like an opportunity, or technological advancement, rather than a "problem"! Cheers.
Exactly. This will create a bunch of work upgrading major transmission lines and infastructure. I see it as a big win win
When I was loving in Seattle 10 years ago they were having issues exporting power due to infrastructure limitations. Glad to see a power intensive industry is moving in to take advantage of the cheap power surplus!
That't pretty interesting. I always hear that they mine with their antminers before releasing it for sale to the public but thought it was just a conspiracy theory. Now that sounds more plausible.
chinese are heavily investing on quantom computing and that's where one side defeats the other. It wont be about power consumption only anymore
thanks for the information
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thanks for the invitation
I agree Good Job Broo
What do you agree with? This will get you nowhere.
Yes but I agree for your work and the info
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What do you agree with? This will get you nowhere
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Come after every hour and play as much you play as much you earn
Good Luck
Really good news. Chinese have enough already. Was unfair but Russia still has Bitcoin farms in Siberia with no electricity costs or lower than normal costs.
bitcoin mining is really incredible
let me reblog your bitcoin war post, really impressive
@lexiconical
Well, I guess you read the first line, at least. Thanks for the resteem.
there are several benefits I resteem, which tops I haven't had time to read as well as I can read when hours break, the second we help each other, greetings humanity
@lexiconical
Buen dia amigo, Aqui le deje mi voto. Saludo desde Venezuela. Unidos podemos lograr grandes metas. Saludos
Can't withstand upvoting and resteeming your post. It's so wonderful. Really helped me in my bitcoin investments. Thanks and wish to get more tips.
Me @synick
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Come after every hour and play as much you play as much you earn
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I agree Good Job Broo
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Well written content, it was an interesting read, let the warring factions find how to utilize electricity for the good of all. Thank you for the information and for sharing.
Excellent post..i am interested..thanks for sharing your post.
Good post 😊😊
I Upvoted And Followed you. do The same for me and we could help each other Earn.
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Come after every hour and play as much you play as much you earn
Good Luck
i followed you
just curious - what's the unit cost of power per Kw in Washington ?
This has been going on for years. The problem occurs when mining takes up more energy than they can produce and then the town has to purchase more energy at a higher price. As long as the power plants can keep up with the demand, there shouldn't be an issue, but that isn't happening right now so I think some regulation may need to be put in place.
great article, thanks for sharing
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http://freedoge.co.in/?r=1178803 (for free DogeCoin)
Come after every hour and play as much you play as much you earn
Good Luck
please help from you also to help me to grow, thank you
@lexiconical
Oh yeah, I'll get right on that.
Have a flag.
thanks for the flag of your lord, may you remember @zordon87 always,
cruelty and oppression is a culture that is not good master, thank you once again
https://freebitco.in/?r=10689239 (for free BitCoin)
http://freedoge.co.in/?r=1178803 (for free DogeCoin)
Come after every hour and play as much you play as much you earn
Good Luck
Is this real or a scam? I don't want to get spammed in my email...
Agreeing with facts is kind of a no-brainer.