Cryptocurrency has been a hot topic over the last few months. With fears of inflation and an economic recession looming, people are looking for other ways to secure their money. Cryptocurrency has come a long way in a short period of time, with the most popular, Bitcoin, being released only 12 years ago.
What is Bitcoin?
According to Wikipedia:
Bitcoin (₿) is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
People who do “record-keeping” on these blockchains are called “miners.” Bitcoins are a reward for people who use giant computer processors to keep track of transactions. These “mining” operations have recently come under fire from environmentalists regarding the massive amount of energy required to mine cryptocurrencies. One cryptocurrency company is looking at a greener approach to “mining,” and they are looking at Montana.
Cryptomining in Montana
When it comes to mining, we here in Montana immediately think of the town made famous by mining: Butte. But, what they were digging up from the ground has now been transformed into computer chips and processors. Now, it looks like Butte will not have to go underground to seek fortune. They simply need to pray for sunshine.
The Montana Standard is reporting that a cryptocurrency mining company named Atlas Power is backing a multi-million dollar project to create a 1,600-acre solar array known as the Basin Creek Solar Project. This solar power project claims to produce enough energy to power 40,000 homes. But, with only 15,000 homes in Butte, there will be enough leftover power for a giant crypto data center.
What Would Montana Miners Think
If only the miners of the past could see that all of that copper and gold they dug up would eventually create 700,000 solar panels powering buildings filled with giant computers.
This could be a turning point for energy in Big Sky Country. Montana currently ranks 43rd in the country for solar production.