Cow Muck & Cryptocurrency: The Next Big Thing?
Cryptocurrency hit the headlines recently, with Elon Musk calling into question its sustainability and the impact that it has on the environment… but it seems as though there may well be a solution on the horizon, in the form of anaerobic digestion.
According to the BBC, there’s a farm in Denbighshire, just outside the Snowdonia National Park that is now using this particular process to decompose cow manure into electricity that is then used for cryptocurrency mining.
The farm itself is owned by Philip Hughes, whose family has been working the land for generations, with approximately two-thirds of the power generated through anaerobic digestion helping to power the site and the adjacent caravan park. The remainder is then used to power mining rigs, with the farm currently mining Ethereum.
Mr Hughes is aware, however, that this side of his business is dependent on producing an asset the value of which can change dramatically… as was evidenced back in May, following Elon Musk’s tweet about sustainability, which saw values drop dramatically.
He explained that if the market does collapse, this computing power he’s now generating can be put to other uses - but it seems that other farmers are also interested in his crypto project and have been getting in touch to discuss it.
Mr Hughes further explained that it’s “a lot easier to run a computer than a herd of cows or a flock of sheep” - which could also be why fellow farmers are expressing a keen interest in doing something similar.
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