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cryptocurrencies they are experiencing a drop in value that has already hurt their respective market. In this situation, Digital Mining Stronghold is one of many US mining companies. bitcoin and other digital currencies – she decided to sell some of her equipment in order to pay off the debts of millionaires and not stop her activities.
According to the portal tomshardwarethe company sells about 26,200 mining rigs. cryptocurrencies pay off a debt of $67.4 million. As a result of this transaction, the firm lost production equivalent to 2.5 Ethereum (ETH) per second, but he managed to support about 16,000 computers and with them the ability to mine 1.4 ETH per second with a consumption of up to 55 watts.
The fall of cryptocurrencies shocked the market
In addition to retaining some of its original production capacity, Digital Mining Stronghold expects to recover and expand through the acquisition of new equipment as soon as the situation with digital assets improves. While this may be somewhat inconvenient for the company, the truth is that mining hardware cryptocurrencies they are worth even more than what they can produce, so this is a strategy that may prove beneficial in dealing with this crisis.
As if that weren’t enough, the firm also has factories capable of generating 165 MW of power under its ownership, which is far more than what it currently uses, including the sale of 26,200 mining platforms. cryptocurrencies, its current consumption is less than 65W. Because of this, you can also sell all the remaining power when the digital currency recovers.
The earth benefits from the fall of cryptocurrencies
The volatility of the cryptocurrency market is a problem for all companies and people involved in it. With devaluation ethereum D bitcoin, the demand and price of the video cards required to mine these currencies have declined. Similarly, the energy consumption to operate this equipment has also decreased, so our planet is a big beneficiary of this.
Recall that both Digital Mining Stronghold Like other companies involved in this activity, they generate energy by burning coal residues, a non-renewable by-product obtained from mining. According to Digieconomistgiven that several users have decided to close their mining farms due to the fall cryptocurrenciesthere was also a reduction in CO2 emissions of 110 thousand metric tons per day: the equivalent of the total energy used by countries such as Austria.
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Source: RPP
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.