Cryptocurrency mining has gained a reputation for being energy-intensive, highly technical, and necessarily wasteful and damaging from ecological and social perspectives. Jingke Liu, an engineer at Heatcore, and Anita Posch, the founder of Bitcoin for Fairness, sat down with Roundtable at Bitcoin 2022 in Miami to discuss why those views are mistaken.
Heatcore is an integrated energy and mining system that is working towards net-zero emission crypto mining. "Right now people associate with mining with high-waste," Liu said. "We're trying to change that."
The company's system involves recycling the water used in mining's cooling process and using it in productive ways.
"We're sending cold water in and hot water coming out, and we're harvesting this hot water and we're using it in agriculture, in residence heating, in fish farming heating," he explained.
Posch described her work with Bitcoin for Fairness educating people about Bitcoin in countries without access to global markets.
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"Mining is a very important factor [in these places], because it's securing the blockchain and all the value that is stored there," she says. "I try to share the knowledge that Bitcoin is an open, borderless [and] neutral financial network that you can use without an ID. It enables these borderless transactions in countries where people don't have access to the financial global world."
Liu noted technology like Heatcore can also provide opportunities for generating wealth.
"By making mining more accessible, you make mining more profitable. That's what we're trying to do as well," he said. "Using our water cooling system, you can make a secondary profit off the heat."
Jingke Liu, engineer, Heatcore
Anita Posch, founder, Bitcoin for Fairness; host, Anita Posch Show