Amid concerns about Bitcoin’s energy consumption, farmers in the United Kingdom (UK) are getting creative with how they generate their BTC.
In an effort to rethink Bitcoin’s energy footprint, British entrepreneur Josh Riddett has figured out a way for farmers to turn methane gas from cow manure into electricity for BTC mining.
Riddett opened up his Easy Crypto Hunter business in Manchester, England in 2017. The company connects computer banks to renewable energy generators, including farmers who generate power from cow manure.
“It’s a new way to generate money from those energy sites, which isn’t government-backed. It’s much more independent… Effectively, farmers are turning their barn or cattle shed into a mini-data center and getting paid for renting out their computer processing power.”
In a message to City A.M., a local London newspaper, Riddett explains his motives and why he sees opportunity in crypto.
“Years ago, farmers were encouraged to develop green energy solutions, which is one of the reasons why we’ve seen solar panels appear in fields over the last 10 years, and these schemes came with good financial incentives. More recently, those incentives have dwindled to virtually zero, but our machines are now providing those lost incentives.”
According to Riddett and his clients, the resourceful way of generating Bitcoin is not only an efficient use of otherwise wasted energy but also a source of much-needed extra income for farmers.
Riddett argues that the growing business boosts overall renewable energy by providing demand at higher rates than generators earn from the grid.
“Unless they come up with some crazy new incentive for farmers to build solar panels, a non-taxpayer benefit is a really nice solution.”
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Featured Image: Shutterstock/Jorm S