to create bitcoin. they do that by tackling wickedly hard equations that need a lot of computer power to solve. in many ways, these computers are printing money. one bitcoin is currently worth over £25,000, or $35,000, and all these computers need a lot of energy. the unique thing about this plant is it both creates energy and mines bitcoin, so these turbines actually create the energy, and then literally right next to them there are these massive bitcoining machines. that s kind of the unique selling point of company, that they do the whole thing in house. mining bitcoin is hugely energy intensive. cambridge university estimates that the annual amount of energy used to mine bitcoin is equivalent to a country the size of colombia or bangladesh. there are nearly 10,000 bitcoin mining computers here and greenidge
converting it into a gas fired power station with a twist. what s happening here is part of a modern day gold rush. but they are not mining minerals here, they re mining bitcoin. these computers all have one singular goal: to create bitcoin. they do that by tackling wickedly hard equations that need a lot of computer power to solve. in many ways, these computers are printing money. one bitcoin is currently worth over £25,000, or $35,000, and all these computers need a lot of energy. the unique thing about this plant is it both creates energy and mines bitcoin, so these turbines actually create the energy, and then literally right next to them, there are these massive bitcoining machines. that s kind of the unique selling point of this company, that they do the whole thing in house.
singular goal: to create bitcoin. they do that by tackling wickedly hard equations that need a lot of computer power to solve. in many ways, these computers are printing money. one bitcoin is currently worth over £25,000, or $35,000, and all these computers need a lot of energy. the unique thing about this plant is it both creates energy and mines bitcoin, so these turbines actually create the energy, and then literally right next to them there are these massive bitcoining machines. that s kind of the unique selling point of company, that they do the whole thing in house. mining bitcoin is hugely energy intensive. cambridge university estimates that the annual amount of energy used to mine bitcoin is equivalent to a country the size of colombia or bangladesh.
of a modern day gold rush. but they are not mining minerals here, they are mining bitcoin. these computers all have one singular goal: to create bitcoin. they do that by tackling wickedly hard equations that need a lot of computer power to solve. in many ways, these computers are printing money. one bitcoin is currently worth over £25,000, or $35,000, and all these computers need a lot of energy. the unique thing about this plant is it both creates energy and mines bitcoin, so these turbines actually create the energy and then literally right next to them, there are these massive bitcoining machines that s kind of the unique selling point of company that they do the whole thing in house. mining bitcoin is hugely energy intensive. cambridge university estimates that the annual amount of energy used to mine bitcoin
with a big difference. a former new york coal plant, its owners, greenidge generation, have decided to bring it back to life, converting it into a gas fired power station with a twist. what s happening here is part of a modern day gold rush. but they re not mining minerals here, they re mining bitcoin. bitcoin is a type of virtual money or cryptocurrency made up of computer code that you can mostly buy or sell online. these thousands of computers are competing to verify the millions of bitcoin transactions happening around the world, and if they succeed, they are rewarded with a new bitcoin. they are essentially creating money online. one bitcoin is currently worth over £28,000, and these computers need a lot of energy. the unique thing about this plant is that it both generates electricity and mines bitcoin. so these are the turbines here that actually create the energy, and then literally right next to it you have computers that are using that electricity to make bitcoin.