Bitcoin Energy Consumption: An Inside Look


A crazy thing to think about with
respect to Bitcoin, betting on which estimate you look at is it’s expected
that Bitcoin and Bitcoin mining will require to use as much energy in 2020 as
we use today in the whole world for everything. About
38 percent of the electricity need to run the operation is just to cool the
electronics. That’s the thing we want to address that’s the system and efficiency
in this case. But we’re then coming to a crossroads where we’re going to need
something new you know something different to help maintain and reduce
that energy footprint. Back in 2012 we set up our company in Hong Kong purely
for the purpose of Bitcoin mining. We quickly realized that in the subtropical
climate in Hong Kong it would be very difficult to run air conditioning very
efficiently. Something unique happened in 2012 two
young entrepreneurs approached us had seen some videos on immersion and were
intrigued by the possibilities of using it in a Bitcoin mining. When we took a
deeper look into 3M fluids with immersion cooling we were quite fascinated
actually by the possibilities. So immersion cooling actually submerges the
IT equipment in a liquid so that the liquid is coming in contact with the
electronic equipment. You go – whoa wouldn’t there be sparks flying? Well the liquid
that we’re using is a non conductive fluid and therefore that can touch the
IT equipment and cool it directly. Instead of spreading out the electronics
so that you can air cool it, you just pack them together because it’s going to
be cool through this fluid. This allows us to shrink down the entire
data center size to only a fraction of what it would be if you were to run
a data center with traditional air cooling. That paired with a much more efficient
cooling methodology of immersion cooling really convinced us that this was the
right path. So you have best-in-class power density coupled with best-in-class
energy efficiency and dramatically simplified design. The cooling technology
is particularly important to Bitcoin mining because of the fact of how much energy it requires to do that computationally. The
amount of energy that Bitcoin mining uses today, everyday, is about the same
amount as some medium-sized countries use in a day. That energy will only increase.
Personally of course it’s very interesting making a more potentially
big impact on the carbon footprint of data centers in the world. Not only
something for our generation but hopefully also for the next generation.
What we want to help enable with innovative products like the engineered
fluids is the ability to do things differently that leads to a better
future for as many as possible. you

6 Comments

  1. Madness takes it's toll.

    The human race is doomed I tell you. Bitcoin is based on a computer problem which becomes exponentially harder as you keep using it over time to do the same amount of "work". Blockchain is quite brilliant in some ways but is the dumbest idea our species have come up with yet.

    Exponential growth in a finite universe is most likely the reason behind the great filter problem in SETI. Just google "great filter". Technology and growth is why the universe is empty of intelligent life.

    Can't happen here? Just ask the Easter Islanders when at the end they were creating massive statues in an arms race to resource exhaustion. 😢

  2. Lead Into Gold ?  Thorium into Bitcoin!   https://www.youtube.com/watch?v=k6BXvw6mxtw&t=2s   To Infinity and Beyond !  Patents 672256, 3190554, 3013505 .

  3. 3M sickening….the heat is killing planet……ur not reducing carbon footprint ur just making ur way of crypto profit meaning others have to do more destructive way…..FC77 is a HORRID product that eventually breaks down to some nasty shit!

  4. Oh and if which you probably are….are using thing in conjunction with SF6 gas then good skills……..HORRID PEOPLE!!!!

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