Tesla S is using for bitcoin mining

Tesla owner uses vehicle’s supercharger for mining of the bitcoin
04 December 2017   633

For this goal the Tesla S electric car owner installed a bitcoin mining computer in the trunk of the car. He uses the free power from the supercharger of his vehicle. The mining rig is then charged by the car’s supercharger. It could be very lucrative for car owner, because his only major investment is the cost of the mining rig itself and the accessories with associated equipment.

The use of the superchargers of electric vehicles for example the Tesla model may be a good idea, but some issues may originate. Among these troubles is the possibility that the mining rig could produce so much heat that could damage the car’s internal parts. The car’s battery pack could also be easily damaged when used continuously for Bitcoin mining.

Tesla or other electric car owners should decide carefully if they want to use this approach to mine cryptocurrencies due to its potential negative effects on the performance of their cars. Also can use of renewable energies for example solar panels.

Largest mining farm to be built in the UK

The well-known UK tech company Bladetec is building the first large Bitcoin mining farm in Europe
20 March 2018   165

Bladetec had already got an experience in IT support for NATO and the Ministry of Defence of the UK in the past. Today its idea is funded by investors in a limited company which is protected by UK law.

The facility - Third Bladetec Bitcoin Mining Company (TBBMC), situated on the Southeast of the country, is going to cover 3,500 square feet in three different places: in London, Suffolk and Surrey.

Today the company is raising £10 million from investors for building and operating the farm for up 2 years. The farm will become global and significant, also it is supposed to be introduced in the world`s top 25 and produce considerable return for shareholders (as a result of its dominant position).

The minimum investment to TBBMC project set by the company is £ 5,000 from each applicant. The project allows the capital growth up to even 45 % within a period of 2-3 years. The returns for the shareholders at that stage would be based on the Bitcoins sales`proceeds and the ASIC machines. If the price of Bitcoin does drop by 40 %, an investor may lose 22 % of his capital.

The company declared that it is going to mine 1,280 bitcoins within a period of two years. Nowadays it's difficult to predict how much those Bitcoins may be worth in two years. According to current prices, they will be valued at £ 7,8 million. But the situation may probably change before 2021. As for the raised funds, they would mostly be spent on the energy costs, despite the low energy bills' agreement between Bladetec company and the intended wind farm.

Bitcoin mining is more popular in the countries where the weather is cold (such as Iceland and China). The government of Iceland can implement a tax on mining because of the energy consumption. Chinese authorities insists on the ending of the cryptocurrency trading and mining in the country.