The Bitcoin Mining sector breathed a collective sigh of relief in the past three weeks as the price of the digital currency went from $16,500 to $23,000. Many of the miners have rallied in response to the news, but there are still concerns about the energy used to mine.
A lot of electricity is used in the process. According to the Cambridge Center for Alternative Finance (CCAF), the total consumption of electricity in the world is about 0.500 of a kilowatt hour.
Time For A Renewable Energy Mix?
There is a belief that introducing a renewable energy mix of wind, solar, nuclear, and hydropower will help fight climate change and reduce pressure on power grids.
Nuclear is becoming the primary electricity source thanks to companies like Mawson Infrastructure Group Inc.
Decarbonized mining operations have been achieved by the global digital asset infrastructure company.
There are many players in the industry like Riot Platforms Inc.
What Makes Mawson Stand Out?
The diversified model of the company is a key strategy that seems to set it apart from the rest.
The company does not have a HODL strategy of mining and holding Bitcoins to minimize the balance sheet risk of marking down revenues. The financial flexibility of selling back millions of dollars of energy to the grid has been established by the company's move to lower-priced energy areas in Pennsylvania. The development of a mining facility in Georgia was monetized in order to continue to expand its operations.
Some of the core activities are highlighted.
The company engages in self- mining.
There is an additional revenue stream for hosting co-location services.
The Energy Markets Program is managed by Mawson. Mawson sells energy back to the grid when the price of energy is high and the price of digital currency is low. When the price of energy is low, he continues to mine for the virtual currency.
According to the company's December update, Energy Markets generated $13.9 million in the second quarter of the year.
A contract for a low-cost energy line.
- Low-cost energy infrastructure through securing Power Purchase Agreements (PPA).
- The existing energy infrastructure capacity available for Bitcoin Self-Mining and Hosting Co-location is currently over 360 megawatts (MW).
Net Zero Carbon is the focus of environmental, social and corporate governance.
- 22,277 tons of C02 offsets purchased in 2020, 2021 carbon footprint assessed, Verified Carbon Units (VCU) offset pricing underway.
- 24,557 tons of CO2 emissions were avoided through its Energy Markets Program in 2022.
- 100,000 trees were planted in 2022.
The way the company does business is underpinned by a responsible, accountable and ethical approach.
James Manning, the company's founder and CEO, leads a highly experienced management and board. Manning has 15 years of management experience.
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The photo was featured by Mawson Infrastructure.