5 creative ways to mine crypto
From Teslas and human warmth to classic tech and repurposed waste, delve into probably the most uncommon crypto mining strategies.
Since its inception, cryptocurrency mining has been primarily characterised by highly effective laptop rigs fixing complicated algorithms to earn digital cash. Nevertheless, because the world of cryptocurrencies has grown, so has the innovation and strategies surrounding its mining methods.
To maximise returns and reduce prices, many individuals have appeared for different strategies that differ from conventional approaches. The result’s an array of unconventional and generally shocking methods to mine these digital property.
Mining crypto with a Tesla
When one thinks of a Tesla Mannequin 3, photos of cutting-edge know-how and clean rides could come to thoughts. However for Siraj Raval, this car introduced a singular alternative not only for transport however for cryptocurrency mining.
Going past conventional strategies, Raval’s strategy to mining has been nothing in need of audacious. Utilizing the facility socket of his automotive, he efficiently ran Bitcoin mining software program on his Apple Mac mini M1. However the experimentation didn’t finish there.
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Taking a bolder step, he reworked the “frunk” (entrance trunk) of his Tesla right into a hub for graphics processing items (GPUs), instantly feeding off the automotive’s inside battery.
Whereas many would query the prudence of utilizing a luxurious automotive for such a goal, probably voiding the guarantee, the outcomes spoke for themselves. In line with Raval, on the peak of Ethereum’s (ETH) worth in 2021, his Tesla-assisted setup raked in a powerful $800 a month.
However is that this methodology sustainable and, extra importantly, replicable? Alejandro de la Torre, a seasoned Bitcoin (BTC) miner, informed CNBC that at its core, mining from a Tesla doesn’t differ from different setups; all of it boils right down to electrical energy prices.
Whether or not one sees Raval’s strategy as a stroke of genius or a fleeting gimmick, it’s plain that he’s pushing the boundaries of what’s attainable within the crypto realm.
Harnessing human warmth
Cryptocurrencies usually evoke photos of high-tech realms. Nevertheless, Manuel Beltrán’s audacious experiment fuses the digital with the natural, proposing a future the place our very biology drives digital finance.
Main the Institute of Human Obsolescence (IoHO), a Dutch-based analysis entity, Beltrán unveiled an intriguing proposal: mining cryptocurrencies utilizing human physique warmth.
Their methodology is deceptively easy. Members put on a specialised bodysuit embedded with thermoelectric mills. Because the human physique radiates warmth, a stark 100 watts at relaxation, the go well with captures this vitality, changing the in any other case wasted 80% into usable electrical energy.
This energy, in flip, fuels a pc designed for one goal: mining cryptocurrencies.
Over a take a look at interval of 212 hours, involving 37 volunteers, the staff impressively harnessed 127.2 watts. This vitality efficiently mined numerous digital tokens, together with Vertcoin and Ethereum. Nevertheless, the digital titan, Bitcoin, stays elusive as a result of its demanding vitality wants.
Whereas critics may debate the scalability and practicality of such a enterprise, Beltrán’s problem is philosophical as a lot as it’s technological. In a world the place information interprets to foreign money, why shouldn’t people, the first mills of this information, profit instantly?
In truth, in 2020, Microsoft filed a patent known as “Cryptocurrency system utilizing physique exercise information”. The tech large’s proposal concerned utilizing mind waves or physique warmth emitted when utilizing numerous devices, sensible watches, or different gadgets. In line with the proposal, it may get rid of the necessity for energy-intensive mining processes present in conventional cryptocurrency techniques.
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Mining Bitcoin with Apollo-era tech
Ken Shirriff, a self-confessed {hardware} fanatic, at all times showcased an affinity for classic computing. When he took to restoring an Apollo Steerage Pc (AGC) from NASA’s celebrated lunar missions, an intriguing concept struck him: Might this Sixties marvel mine Bitcoin?
Nevertheless, the AGC posed a singular problem. Designed as one of many pioneering computer systems with built-in circuits, it swapped room-sized dimensions for a compact, boxy footprint.
Regardless of its minuscule measurement, it was monumental in 1966, aiding NASA with real-time spacecraft management, all of the whereas enduring the trials of area journey. Its structure, boasting 5,600 digital gates, may handle simply over 40,000 primary additions per second. A feat in its time however mere little one’s play by modern requirements.
Shirriff, not aiming for the celebs however slightly for a problem, reprogrammed this space-age marvel to mine Bitcoin. Nevertheless, fashionable techniques contribute a staggering 70 quintillion hashes per second to mine Bitcoin. In stark distinction, the AGC produced one hash in 10 seconds.
To place it in perspective, Shirriff quips that the AGC would want to function for “4×10^23 seconds” – or a few billion occasions the universe’s age – to efficiently mine a block.
Whereas Shirriff’s experiment is unlikely to yield Bitcoin gold, it aptly captures his ardour: repurposing historic tech in a whimsically fashionable context.
Bitcoin mining in Iran’s mosques
Bitcoin mining took an uncommon flip in Iran. In June 2019, Tavanir, an Iranian electrical energy firm, famous an alarming 7% surge in energy consumption, tracing it again to illicit Bitcoin mining operations.
By early June, stories advised that a few of these miners had been audaciously tapping into free electrical energy equipped to locations of worship, notably mosques.
Rewinding to August 2018, Iran’s Senate Standing Committee on Energy had assured free electrical energy to mosques. Nevertheless, this got here with a caveat: mosque leaders should condemn the illegal use of energy.
Regardless of clear laws, the attract of cryptocurrency mining remained tempting. A major line-up of miners was discreetly nestled inside this sacred area, projected to generate $260,000 yearly.
Including gas to the fireplace, there had been an inflow of miners from Europe and Asia into Iran, attracted by its exceptionally low cost electrical energy charges, as little as $0.006 per KWh. Furthermore, sanctions levied in opposition to Iran by the U.S., particularly after the downing of a U.S. drone in June 2019, additional amplified the demand for cryptocurrencies.
Though the act of mining inside mosques blatantly defies governmental warnings, it additionally poignantly underscores the lengths to which people may go to harness the potential of cryptocurrencies in turbulent financial occasions.
An answer to the tire disposal drawback?
A grave environmental problem we face at present is tire waste. With as much as 300 million tires discarded yearly within the U.S. alone and an alarming 10% of manufactured tires deemed unfit as a result of stringent requirements, the necessity for sustainable tire disposal is urgent.
Present disposal strategies — burning, burying, and grinding — pose numerous environmental threats. For example, burning releases poisonous fumes, whereas buried tires can contaminate the soil.
Product Restoration Expertise Worldwide (PRTI), an organization based in 2013, has developed a brand new Thermal DeManufacturing course of to assist clear up the issue.
As an alternative of viewing tires as waste, PRTI sees them as “spherical batteries” containing a goldmine of vitality. Their course of decomposes waste tires into 4 useful commodities: stable gas, oil, fuel, and metal. The corporate then leverages the vitality derived from these tires by establishing microgrids able to producing 8 to 10 MW per web site.
A placing characteristic of PRTI’s strategy is its embrace of bitcoin mining. By constructing a small information middle on-site, the vitality from the tires is channeled to mine Bitcoin.
This challenges the mainstream critique of Bitcoin’s environmental affect. PRTI’s mannequin turns waste into wealth, using in any other case discarded vitality to bolster the Bitcoin community.
Chris Hare, CEO of PRTI, envisions the microgrids as a extra localized vitality resolution that might complement bigger vitality infrastructures.
Whereas PRTI claims to have already processed roughly two million tires by Might 2022, its ambitions soar greater. With plans for enlargement within the U.S. and overseas, the corporate goals to sort out the tire drawback on a worldwide scale.
Learn extra: Exploring Bitcoin’s path to a renewable mining future
