Experts in the field of mining, cryptocurrency and blockchain announced its own national and international campaign “Crypto Hour.” During the rally, organizers encourage miners from all over the world to disable Mar 24 at 20:30 local time their equipment for one hour.
Today to support the work of the bitcoin network spent more than 50 terawatt-hours of electricity per year. Experts predict that if the level of consumption will continue to grow at the same rate, then by 2020, the mining of bitcoin will exceed the current amount of global energy consumption.
“The campaign calls on the governments of Russia and foreign countries to create maps of “ecological mining”, which would demonstrate the possibility of placing mining facilities near renewable energy sources, as well as to stimulate inflow of investments into the projects “ecological mining” in the territory of the Russian Federation. In addition, we call for the establishment of a system allowing the use of produced in the mining process heat and to develop less energy-intensive technologies of the distributed registry”, — says the initiator of the action “Crypto Hour”, member of expert Council of the state Duma on legislative maintenance of development of financial technologies Peter Dvoryankin.
According to the calculations of the initiators, in 3-5 years, investment in environmental, mining may become an additional stimulus for the development of green energy and will provide the basis for tax revenues of over $ 1 billion annually.
“For the miners will be turned off for an hour will cost only 0.1% of the monthly income. Given the high volatility of cryptocurrency, this figure is at the level of arithmetic error”, — added Dvoryankin.
It is expected that the campaign will be the largest in the history of the event. Already confirmed their participation miners from Russia, Japan, China, Canada, Georgia, Bulgaria and Poland. The organizers expect that the event will save at least 1 mW/h, worldwide — more than 5 mW. Given that the registration of the shares is not mandatory, the actual numbers may be much higher.
To register as participants of the “Crypto” miners can on the official website of the event.
We will remind, in January the representatives of the Swiss financial holding Credit Suisse said the growth of the industry bitcoin mining will not cause environmental catastrophe, despite the active power consumption.