Producing energy from solid waste is a practice increasingly considered by Bitcoin miners.
Solid waste can supply the energy needs of Bitcoin miners. Currently, companies such as Vespene Energy and XcelPlus International are promoting several initiatives focused on reusing garbage to produce clean energy that powers the operations of miners on the blockchain network.
As this media pointed out at the end of 2022, the transformation of garbage into energy is emerging as one of the leading alternatives for Bitcoin miners for sustainable energy generation. This is an alternative that is attracting more and more interest and attention in the crypto industry.
In Peru, the CEO of the non-profit organization MOTIV, Rich Swisher, believes that generating energy from solid waste has great potential and could boost Bitcoin mining in the region. Bitcoin miners can take advantage of solid waste to generate clean energy and meet their mining needs in an efficient way. sustainable and profitableSwisher noted during an interview on the Bitcoin channel JAN3.
For Swisher, Bitcoin is transforming Peru. He highlighted that both cryptocurrency and blockchain technology allow new economies to be built and governed from scratch, without influence from governments.
Regarding mining, he considers that solid waste, which has become a big problem for Peruvian society and for the world, can be a great alternative for miners who seek to make crypto mining profitable and, at the same time, comply with environmental objectives. By transforming trash into clean energy, Bitcoin miners can significantly contribute to the environment and the grid, limiting methane emissions, minimizing pollution, and boosting Bitcoin's environmental sustainability.
Swisher runs MOTIV, a nonprofit organization that, as he explained, focuses on combating dependence on financial aid through educational programs. In relation to this, he stated that Bitcoin is simply “the best financial tool and system to run.”
Bitcoin gains ground in Peru
The Latin American nation is home to several Bitcoin-focused projects that have been developed to promote innovation. One of these was promoted by the local government of La Molina, one of the 43 districts of the city of Lima, the Peruvian capital.
In April of last year, The municipality of La Molina presented a new payment platform based on Bitcoin as part of an initiative designed to promote and boost the use of this cryptocurrency in the region.
Lawmakers in the country are also debating the need to regulate crypto assets as they gain increasing interest among citizens.
Last year, the company Sherlock Communications indicated in its report “Blockchain in Latin America 2022”, that the 12% of Peruvians were interested in investing in bitcoin and other cryptocurrencies. Similarly, Chainalysis revealed that interest in cryptoassets in Peru had grown by 1.100% in the first quarter of 2022. Due to the increasing demand for cryptocurrencies in Peru, Congress is currently debating a draft law, called “Cryptoasset Marketing Framework Law”, which is focused on regulating crypto companies and commercial activity with these digital assets.
Continue reading: Garbage dumps are the new trend for Bitcoin miners
