Energy

The crypto industry wants to go green — that’s easier said than done

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BODEN, Sweden — Tucked away in snowy Swedish Lapland is a modern-day gold mine. But instead of picks and shovels, it’s filled with thousands of computers.

These machines, known as mining rigs, are working around the clock to find new units of cryptocurrency — in this case, ethereum, the second-largest token globally.

To do so, they must compete with others around the world to find the answer to a complex math puzzle, which grows in difficulty as more and more computers, known as “miners,” join the network. The aim is to ensure the security of the system and prevent fraud.

This ethereum mining facility is run by Hive Blockchain, a firm that focuses on using clean energy to mine…



Source cnbc.com

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