Most of us normal people are confused by Cryptocurrency. But Spooner apparently has it figured out, since the Washburn County Board of Supervisors approved a land sale to Moria Mining Co. (what up LOTR nerds!), a Bitcon data company.
Here’s Five Fast Facts About Wisconsin’s new Bitcoin Mine:
- 💰 What Did They Buy? - Moria Mining bought four acres of land on County Highway H. They chose the site because of its proximity to electric companies. Bitcoin mines require a LOT of power.
- ₿ What’s Bitcoin Mine? - To keep things as simple as possible, it’s a building that hosts a bunch of computers that all run simultaneously. These computers are solving complex math problems that result in one bitcoin. There’s no digging involved.
- 💾 Why Do They Need This? - Bitcoin mining puts out one bitcoin every ten minutes. The facility will house tons of computers in one location, constantly producing bitcoin on that schedule.
- 🖥️ This is a Real Job? - Yep! Since they run around the clock, they’re going to need personnel on site all the time. It’s not known if Moria is hiring (or if they have a cave troll).
- 🏭 So What’s The Problem? - It’s estimated that bitcoin mining generates 132.48 terawatt hours of power. That’s more than the annual energy usage of freaking Norway! In 2020, bitcoin mines created nearly 40 BILLION POUNDS of carbon dioxide for some heavy impact on the surrounding areas.
🔥Bottom line: If you’re into Crypto, this is great news. It’s unknown what this will mean for the rest of us. There’s also a very strong chance that the environmental impact is going to be a source of contention in the near future.
What do you think of the new Crypto Mine? Do you even crypto? Let us know by connecting with us on Social Media and be sure to share this newsletter with any friends & coworkers!
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