Wednesday, March 14, 2018

Crypto Mining For... Tomatoes!

Bitcoin and much of the crypto market is getting hammered yet again right now, with the so-called "Tokyo Whale" selling off hundreds of millions of dollars USD worth to partially cover Mt. Gox debts, Google deciding to follow Facebook and ban cryptocurrency and ICO advertisements (not a bad thing on the ICO part of that, really), and Christine Legarde of the IMF beating the "Bitcoin money laundering" dead horse again, because everyone knows that drug dealers and terrorists prefer publicly visible permanent blockchain records for hiding their money! (Not to mention that the international order of fiat institutions she represents hates competition for such business...)

So, for some pleasant crypto news amidst all of the doom, gloom, and FUD, have some tomatoes!

‘Cryptomatoes’ Grows 5 Acres Of Fruit From Bitcoin Mining Heat
"The co-founder of Czech cryptocurrency exchange NakamotoX will launch a Blockchain startup based on growing edible crops from excess mining heat.

In a Twitter discussion March 10, Kamil Brejcha said staff had created bespoke housing for Bitcoin servers, which harnesses heat and sends it to greenhouses currently growing tomatoes.

The project, which will soon be accompanied by a new business called Agritechture, has been in stealth mode but has now delivered its first crop - a five-acre greenhouse full of tomatoes dubbed ‘Cryptomatoes.’

“We are using the excess heat for the tomato greenhouse and it is working,” Brejcha confirmed." -- W. Suberg
This is a neat idea. Crypto mining does produce a huge amount of heat, and aside from hobbyist miners running rigs at home that sometimes allow them to keep their houses warm in the winter, most industrial scale crypto mining operations just have to deal with the heat as a waste product.

This company is recycling that heat. As the article goes on to describe, the heat generated by their mining rigs is pumped into specially built greenhouses, where so far they've been growing tomatoes. In fact, in their case, the electricity they're using to power their miners is coming from biowaste, giving their project more of a closed energy loop than any other I've heard of.

Maybe an approach to crypto mining like this will make the Siberian tomato more than "Siberian" in name only one day.

Just in terms of where Bitcoin was this time last year, the price is still up about nine times compared to then. Like I wrote about the other day, right now regulatory uncertainty is being cleared away, bit by bit, and once much of that news has been digested more people will wade in to this space. More people getting in means more demand, prices rising, and a reduction in volatility as ownership continues to spread out into smaller positions in an increases number of hands. So relax, have a cryptomatoe, and try to ignore the FUD.

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