One of the most-cited arguments against Bitcoin (Crypto: BTC) is the fact that maintaining its blockchain is too resource-intensive. The total power consumption of the computer hardware maintaining the BTC network exceeds that of many smaller nations. If the network continues to expand, it could even take up a noticeable chunk of the total global power supply. In the long run, if nothing is done, this could significantly impact our carbon footprint.
However, for Foleum, a fledgling blockchain-based cryptocurrency mining project, this is an opportunity rather than a roadblock. Unlike other mining companies that set up equipment in locations with a large supply of cheap power, Foleum’s core philosophy is to source most of its own energy from renewables. This allows its to not only eliminate most of the expenses related to running a mining farm, but to also…
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