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.

Related Story: Metaspectral Gets Grant From British Columbia For AI-Enabled Plastic Sorting

Image of North Vancouver: Flickr

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…