Solar’s new revenue stream offering alternative clean electricity to power cryptocurrency mining may work in the future; Solar Integrated Roofing Corp. (OTC PINK: SIRC) expands its national solar footprint
Ideally, solar-generated electricity could power bitcoin mining in the future. It would be the perfect marriage of clean solar electricity powering bitcoin mining internationally. The concept sounds great, but an analysis of this “ideal marriage” indicates that it doesn’t work today because the large energy requirements of bitcoin miners make it inefficient. If successful in the future, it would represent a lucrative new revenue stream for solar installers such as Solar Integrated Roofing Corp. (ROSE OTC: SIRC).
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Solar’s New Revenue Stream Providing Clean Alternative Electricity to Power Ma Cryptocurrency Mining Works in the Future; Solar Integrated Roofing Corp. (PINK OTC: SIRC) expands its national footprint in solar
“Some say solar power is the future of cryptocurrency mining, but that can be disputed as some countries are climatically colder than others,” an analysis reveals.
“It takes about 6,000 watts of solar panels to run a Bitcoin mining rig with multiple GPUs during the day, while also charging batteries to mine at night,” he concludes.
So miners looking to go green and cut central grid costs are turning to other alternative energies – from natural gas to even hydroelectric power. Solar would appear to be part of the alternative energy mix powering future bitcoin mining facilities. Only the future will tell. Solar’s new revenue stream offering clean alternative electricity to power cryptocurrency mining may work in the future; Solar Integrated Roofing Corp. (PINK OTC: SIRC) expands its national footprint in solar.
The important news is that cryptocurrency mining matters as Bitcoin and other mining results are increasingly accepted by central banks as legitimate sources of currency. More localized governments are actually paying their employees with cryptocurrency – and offering year-end bonuses on valuation gains made in digital currency. This is already the case in Miami.
Solar can play a role in removing the biggest Achilles heel of bitcoin mining – the huge need for energy. Access to the central power grid means that earnings from Bitcoin and other cryptocurrency coins face a headwind of large and uncontrolled mining spending.
Ideally, solar power could play a key role in this protocol – but its power, even with rechargeable solar batteries – is spotty and inefficient to store against heavy use.
“Ultimately, cryptocurrency mining will have to start exploring and using renewable energy intensively because that will take one of the thorns in the flesh of the regulator, eventually allowing them to view cryptocurrencies like bitcoin as legal tender”, concludes the analysis.
A new report from Wood Mackenzie noted that Solar could ride out headwinds if BBB goes through in its current form. Solar deployments would triple by 2026 and help offset an additional 83 million tonnes of carbon. BBB is dead, but may go into separate “pieces” later.
Headwinds to BBB segments include shipping deferrals and prices, according to the report. While solar component prices fell 12% between Q1 2019 and Q1 2021, the report says price spikes over the past six months have wiped out all of these savings over this two-year period. . Solar’s new revenue stream offering clean alternative electricity to power cryptocurrency mining may work in the future; Solar Integrated Roofing Corp. (PINK OTC: SIRC) expands its national footprint in solar.
Michelle Davis, principal analyst at Wood Mackenzie and lead author of the new report, says, “Federal BBB tax credits would help drive solar sales and deployments in nascent states. For example, Texas would add 7 GW of additional solar capacity over baseline forecasts by 2026, reaching 44 GW of cumulative capacity.
Another report sees rooftop solar and other renewable energy sources growing over the next three years to generate at least 30% of the country’s capacity. New solar panel technologies and mid-January solar incentive grants are helping to spur the growth of solar installations and more renewable energy, the ENRCalifornia website recently reported. These positive moves are tailwinds for solar installers, such as Solar Integrated Roofing Corp.(PINK OTC: SIRC). Today, renewable energy generates only 25% of the total capacity of the United States.
The decision within three years to generate 30% of the country’s electricity capacity – against only 25% today – needs a new impetus thanks to new financing and technologies. This includes incentive rewards for new rooftop and small-scale solar projects.
In addition, new technologies can reduce installation costs.
Solar power and other renewables generate a larger percentage of the country’s capacity needs. According to the “Bring Me The News” website, electricity rates have jumped about 30% over the past 10 years in some states. This makes solar not only a conservation purchase, but also an energy efficient purchase. For bitcoin miners, this makes any alternative energy source – solar, hydroelectric, wind – attractive as a way to offset significantly higher electricity rates.
Solar energy and roofing remain SIRC’s main activities. Its workaround may mean that potential buyers of solar systems can raise the price with renewable solar batteries, but in the long run beat higher energy costs – while using rooftop solar to fight carbon.
Solar’s new revenue stream offering clean alternative electricity to power cryptocurrency mining may work in the future; Solar Integrated Roofing Corp. (PINK OTC: SIRC) expands its national footprint in solar
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock market press
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