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Mining Industry Overview
At Block Green, our belief is that Bitcoin will be a driving force for generations to come. It will be essential in enabling financial freedom and inclusion around the world.
Bitcoin also has a major role to play in the transition to renewables and more resilient grids. At the center of the Bitcoin ecosystem are Bitcoin miners, who use computational power to secure the Bitcoin network.
Today, most Bitcoin mining operations are situated in professional data centers that host large quantities of dedicated computer hardware called “ASICs” (Application Specific Integrated Circuits). Bitcoin mining is CAPEX intensive and requires large upfront investments to acquire computer hardware and data center infrastructure.
Aside from high upfront investments, Bitcoin mining requires access to large amounts of low-cost energy. Typically, Bitcoin miners operate where energy is produced in excess, i.e., in locations and periods where energy production outweighs the demand. In recent years, hyper-scale miners have deployed immense amounts of new capital to build larger and larger data centers. However, the mining industry, and the Bitcoin ecosystem as a whole thrive by accessing energy close to the source, and working with a variety of energy sources / locations.