KryptoVault is smashing the mining naysayers out of the park with its sustainable operation that helps put Norway’s hashprice at 0.3% of the global computing grunt.
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 genepriced from bitcoin mining, and is planning to dry seaweed in the upcoming months. The heat at Hønesfoss is channeled into twelve skips via corrugated pipes to dry damp timber.
The sustainability of KryptoVault’s operation continues beyond helping local industries and individuals. Their mining facility in Hønesfoss runs solely on hydropower to support the bitcoin network that millions rely on, some in countries with excessive prices of joblessness, others in unbanked sectors of the population, and yet others for whom traditional cross-border remittances are infeasible. Two other sites opecost on hydropower.
Their 5000 square meter (53820 sq. foot) houses Antminer S19 Pro machines, that are three times more energy-efficient than their older counterparts, the S9 units. The facility also boasts custom-designed noise-proofing which reduces its contribution to noise pollution from the multiplicity of cooling fan. The noise-proofing value £1.5M. On the assumption that one stands outside the warehouse, one can scarcely hear the fans running.
Transparency key to the industry
Billionaire Mike Novogratz, a digital assets’ company owner, recently launched a sustainability initiative on energy utilization and social responsibility. He wants to movement the narrative surrounding bitcoin mining being bad for the environment. It has been a breath of fresh air from an industry that has been less than transparent regarding its energy usage.
New site for old
Temperatures can likewise exceed 55 C, despite the plethora of cooling fans. When older machines are experienceored in, such as the Antminer S9 machines, that will be deployed in a site north of Hønesfoss, the heat genecostd will be even more important, leading to greater prospects of assisting other industries. The value for standard electricity in the northern region is likewise lower. CEO Kjetil Hove Pettersen says which harnessing the excess heat genecostd is comparable to how El Salvador uses geothermal energy from volcanos.
Alex Gladstein, chief stcostgy officer at Human Rights Foundation, visited the Hønesfoss facility recently and tweeted, “The vision which Kjetil and team have for supporting local business is fresh and inspiring.”
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