Canadian city plans to harness Bitcoin mining to provide heating for residents
Canadian city plans to harness Bitcoin mining to provide heating for residents By Hannah Perez

Miner

MintGreen partnered with North Vancouver Energy Services to create an innovative clean energy heating system.

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The city of North Vancouver, British Columbia, is becoming the first in the world to harness the heat generated by bitcoin

mining to provide heating for its residents.

According to a statement, cryptocurrency mining firm MintGreen is working with the city’s energy utility, Lonsdale Energy Corp. (LEC), to create clean, renewable energy available to the city through Bitcoin mining operations. MintGreen

CEO Colin Sullivan commented that the initiative represents a novel solution to the challenges imposed by climate change.

The complex issue of climate change requires innovative solutions, and LEC, with the City of North Vancouver, is showing tremendous leadership in environmental stewardship.

MintGreen’ s “patented digital boilers” recover more than 96% of the electricity used for bitcoin

mining in the form of thermal energy that can be used to sustainably heat communities as well as serve industrial processes, the firm said.

100 Buildings Powered by Bitcoin Heat

In an interview for CoinDesk, Sullivan explained that the company uses “immersion” technology that captures the heat generated from mining and redirects it to hot water utilities known as “District Energy

,” which is then distributed to customers.

Digital asset manager CoinShares, which participated in a seed investment round for MintGreen earlier this year, had noted at the time that the mining firm’s “immersion

” system captures and transfers heat generated by cryptocurrency mining servers to industrial-scale hot water utilities.

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With the cryptocurrency mining equipment operating at full capacity 365 days a year, the company will be able to supply heat to a total of 100 residential and commercial buildings in North Vancouver. The clean heating solution will supply a population of more than 50,000 local residents.

The buildings sector currently accounts for 40 per cent of carbon emissions in urban areas, but district energy creates an opportunity to reduce the urban carbon footprint through the use of clean energy.

s integration of innovative new technologies, MintGreen said in the release.

The new mining-powered heating system from Bitcoin will prevent 20,000 metric tons of greenhouse gas per megawatt from entering the atmosphere compared to natura gas, the release highlighted. The novel heat source will be fully introduced into the district’s energy system by 2022.

An innovative solution

The Canadian city, known for its mountainous climate, has been leading efforts toward decarbonization to implement more renewable and clean energy, moving away from the use of conventional natural gas.

In 2019, North Vancouver City Council passed a motion for the city to increase its greenhouse gas reduction targets to achieve net zero by 2050 and reduce emissions by 80 per cent by 2040. Now, with the new partnership, the city plans to tap into the mining of Bitcoin as a heat-generating source to achieve that goal.

Partnering with MintGreen on this project is very exciting for LEC, as it is an innovative and cost-competitive project, and reinforces the path LEC is on to support the city’s ambitious greenhouse gas reduction goals,” Karsten Veng, CEO of the local energy company, commented on the matter.

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The use of heat generated by coal mining is not new; in fact, the city plans to use coal mining as a source of heat to achieve that goal. Bitcoin mining is not new; in fact, there are other similar initiatives in Canada. As reported by CoinDeska small farm located in the town of Neuville, Quebec, also harnesses the heat from cryptominers to counteract freezing winter winds. Le Caveau à Légumes has been running the crypto mining initiative since 2018 as a way to offset high electricity costs.

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Sources: CoinDesk, PRWNewsWire,

Version by Hannah Estefania Perez / BitcoinDaily

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