Digital Assets: MintGreen’s Bitcoin Mining To Heat The City Of North Vancouver
MintGreen is a cleantech bitcoin mining company.
MintGreen, a Canadian cleantech cryptocurrency miner, will supply 2022 its proprietary digital boilers to Lonsdale Energy Corporation, North Vancouver’s district energy utility. These boilers recover more than 96% of the electricity used for bitcoin mining in the form of heat energy. This heat would be delivered to the 100 residential and commercial buildings in North Vancouver, a city that is on a mission to decarbonize and transit away from natural gas. (CISION PRNewswire)
MintGreen Digital Boilers
It is anticipated that, compared to natural gas, the heat from MintGreen’s digital boilers would save the atmosphere from 20,000 tonnes of greenhouse gases (GHGs) over the contracted term in North Vancouver.
Because the energy input into MintGreen’s mining operations would serve the twin purposes of mining cryptos and heating a city, the company can market these digital boilers as a highly cost-competitive and low-emission source of heating.
“Over 97% of BC Hydro’s energy mix is hydroelectric,” said MintGreen CEO, Colin Sullivan. “Using that energy twice both eliminates waste and makes this project one of the greenest in the space.”
Furthermore, given that MintGreen’s crypto mining operations would run 24/7, North Vancouver’s district energy system would have access to a reliable and clean heating baseload.
North Vancouver: Cutting GHGs
“It’s an innovative and cost-competitive project, and it reinforces the journey LEC is on to support the City’s ambitious greenhouse gas reduction targets,” said Lonsdale Energy Corporation CEO, Karsten Veng of the MintGreen contract.
In 2019, the City of North Vancouver Council passed a motion for the City to increase its greenhouse gas reduction targets to achieve net-zero by 2050, and reduce emissions by 80% below 2007 levels by 2040.
“District energy represents a significant opportunity for cities to move towards climate-resilient, resource-efficient, and low-carbon pathways,” said a 2015 report “District Energy in Cities” by the UN Environment Programme.
Image of North Vancouver: Flickr
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