Noise is the latest form of energy FUD surrounding Bitcoin (BTC). Locals in the Norwegian municipality of Sortland are fighting back against the spread of Bitcoin mining, as reported by Cointelegraph. The loudness of proof-of-work (PoW) mining is their most recent point of contention. Bitcoin miners in Sortland must operate in silence in addition to using only renewable energy sources, supporting local companies, and even reusing waste heat from the PoW process to dry wood and seaweed.
“It is usually the negative voices that get the most media attention; this does not reflect on all local opinions,” Kjetil Hove Pettersen, CEO, KryptoVault, added.
As Bitcoin miners help to balance grids (as was recently demonstrated in Texas), grid owners are actually delighted to host them, according to Pettersen, who also noted that “there is a political or social cost for being outspoken about that in today’s context.” According to Pettersen, the misleading narratives that the media produce are nothing new.
Jaran Mellerud, an analyst with Arcane Research and a frequent contributor to Cointelegraph, stated, “Northern Norway has a significant electrical surplus because of low local demand and constrained transmission capacity.” Energy costs are quite low, and stranded hydropower is actually abundant, where Sortland is located in northern Norway.
(With insights from Cointelegraph)