An old hydroelectric plant enters bitcoin mining, does it have any benefits?

Hello everyone...

Currently, everyone is discovering the great benefits that cryptocurrencies can offer us, whether it is keeping them in a wallet for the future, making a stake in DeFi, or using them in daily payments, in everything you see a far superior advantage to the traditional economy, which is full of inflation, corruption, and bureaucracy that closes many doors.

Something that is also becoming more and more common, is that companies now see the superior benefits that cryptocurrencies have, whether they imitate Microstrategy's strategy of changing their cash balance for bitcoin and save it for 5 years and see immediate benefits, also buy bitcoin or ETH to use it as gas to develop applications based on the blockchain or change the business strategy to mine cryptocurrencies, because it is much more profitable.

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And the latter is what is currently happening with an old renewable power plant, the Mechanicville hydroelectric plant in NY. This is a hydroelectric plant built in 1897 and owned by Albany Engineering Corp (AEC), but as old as it is, it is still fully operational today.

And it has jumped to the international news, for making public its change in business strategy since they declared that mining cryptocurrencies give 3 times more profitable than selling electricity to National Grid. This is because they made calculations and saw that by selling electricity they earned 3 cents per kilowatt-hour, while by investing that energy in mining bitcoins they can earn 3 times that amount.

Will this bring any profit?

Of course, it will, since lately there has been a lot of noise in social networks and news that bitcoin mining is very polluting, this because the countries that mine bitcoin use non-ecological energy sources such as coal. That is why the fact that a hydroelectric plant, which produces 100% clean energy, mines bitcoin will be a setback to all the absurd comments about bitcoin.

And this in the long run can also have a good repercussion on the whole world, as mining can take a greener course as it continues to grow while saving the planet.

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Another benefit that can bring to Albany Engineering Corp (AEC) is the sale of residual energy. As is well known, a few months ago a series of projects aimed at reusing the waste energy left by miners made the news.

For example, the company MintGreen is using an innovative process to capture the heat emitted by its mining equipment for use in the production of sea salt and the maceration of malt grain to make whiskey.

Genesis Mining is running projects to use the waste heat from bitcoin mining for nearby greenhouses growing fruit and vegetables in countries with temperate climates.

And finally, there is WisElement and its project to use the heat produced by ASICs to produce hot water to heat homes.

So the benefits are endless!

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But like any breakthrough, this decision taken by the company Albany Engineering Corp (AEC) has some obstacles to overcome, for example in the state of New York is prohibited the granting of permits to new Bitcoin mining projects, this by the laws of environmentalists against pollution from mining and although this should not affect this hydroelectric company, even the Albany Engineering Corp is in the testing phase waiting for a positive response from the authorities so that it can continue mining bitcoins.

So so far it only remains to be seen if this mega-mining project with renewable energy sources is legally approved, this would be an advantage for poor countries like Venezuela or countries with large rivers or lakes, as they could engage in mining cryptocurrencies with old plants that are not indispensable and get an additional income.

Thank you very much for reading.

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