• darthfabulous42069@lemm.ee
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    1 year ago

    You’d think with all of the money they’re pulling in, they’d invest in solar panels or something to lower their overhead.

    Or am I making the mistake of approaching the situation with common sense?

    • this_1_is_mine@lemmy.world
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      1 year ago

      With how volatile the value of Bitcoin is I don’t know whether or not they feel safe trying to take that money and reinvest it you’re walking by one of the coin ATMs that’s at one of my local stores I’ve watched the value of Bitcoin halve its value than double it overnight basically every single day for the last 3 weeks

    • long_chicken_boat@sh.itjust.works
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      1 year ago

      they should be doing that, otherwise I don’t get how they are making any profit with those huge electricity bills. Last time I checked it, with electricity prices it wasn’t worth it to mine cryptocurrency.

    • Huschke@lemmy.world
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      1 year ago

      Maybe pay off would be so far into the future that they don’t want to risk it? Who knows how long crypto will be a thing.

      • darthfabulous42069@lemm.ee
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        1 year ago

        You can get solar panels for like $100-$200 on Amazon right now. Nice ones. The price of them dropped like a fucking rock since China got involved.

    • Snekeyes@lemmy.world
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      1 year ago

      Vs. Banks. That have offices, branches, atms, data centers… banking does use more energy yearly. So why not both invest in renewables

      • stoy@lemmy.zip
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        1 year ago

        Sure, but how much of the global financial market does crypto represent?

        I susptect that the energy consomption per transaction is considerably higher for crypto than for a normal financial transaction.

          • stoy@lemmy.zip
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            1 year ago

            I did find some information about this, and have posted about it in the thread, and you are absolutely right about this in regards to Bitcoin, I did not find a lot of information about other crypto apart from Etherium, which claimed that the energy use of one Etherium transaction would not consume any power at all, which I doubt.

            • makeasnek@lemmy.ml
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              1 year ago

              Ethereum uses proof-of-stake, there is no “mining” in a traditional sense, so its power consumption is more akin to e-mail than mining crypto. But proof-of-stake leads to centralization over time, which is antithetical to what Bitcoin people want.