What is needed for hydrogen – solar mining and how profitable is it?

By Stan Peterson
Published November 12, 2021 Updated November 12, 2021

What is needed for hydrogen – solar mining and how profitable is it?

By Stan Peterson
Published November 12, 2021 Updated November 12, 2021

“If you think this is fictitious money, then any amount of energy expended on it will be too much”, – Ted Rogers, vice chairman of Greenidge Generation Holdings, which operates the Lake Seneca power plant in northern New York.

Mining requires a lot of electricity. The average electricity consumption of the Bitcoin network can be compared to the needs of entire countries. The University of Cambridge says it is 97 terawatts per year. the Netherlands consume about the same amount of energy per year as the Bitcoin network. For comparison: a year ago, the mark barely exceeded 73 terawatts annually.

Experts find it difficult to accurately assess the carbon footprint of bitcoin mining, but they agree on one thing: cryptocurrency causes serious damage to the environment. On the other hand, it is the energy cost. For many miners, it becomes unprofitable to mine coins because electricity costs exceed mining revenues. In this regard,cutting-edge companies began to mine cryptocurrency from renewable energy sources using the sun, wind, and water.

H2Hashes company provides “green” cloud mining services – renting the capacity of its data centers for users. This is an easy way to mine cryptocurrencies, without the noise from the equipment working at your home and the need to spend a lot of money to purchase it. This saves a ton of effort and time since you don’t need to keep track of the equipment, pay your electricity bills, or take care of it – equipment is already set up and ready to go. The first profit can be received immediately after signing the cloud contract. Each contract differs in cost, lease term, amount of

leased capacity, and a referral bonus level. Payments take place in the world cryptocurrency Bitcoin, which makes the system accessible and safe for every person.

Due to the fact that the complexity of mining is constantly increasing, requiring more and more capacities, the relevance of cloud mining is growing. How to make money on cloud mining and is it profitable at all in 2021-2022?

There is a factor that affects the profitability of mining, the hash rate (TH / s) of the purchased cloud contract. Profit directly depends on the volume of acquired capacity. The rule is simple: the more you invest in equipment, the more you earn. The profitability of cloud mining also depends on the company itself: how cheap it gets electricity and how well the equipment is configured. That is why H2Hashes uses renewable sources of clean energy. Thus, mining not only becomes environmentally friendly and almost harmless to our planet but also increases the profitability of the investment.

H2Hashes mines cryptocurrencies using the following equipment:

  • ASIC Antminer The new generation miner for Bitcoin is based on 16nm chips which can calculate hash-algorithm with a record-breaking speed of 28 TH/s.
  • ASIC Antminer L3+ The most powerful machine for Litecoin mining. At the moment, the device does not have competitors. This model, designed in 2017, employs 288 microchips which is twice as much as in the prototype. This enhancement was made possible due to 4 ASRock boards which doubled the efficiency of Litecoin mining.

Each investor can participate in the referral program, where you can invite friends and acquaintances using your referral link. In case of any questions about the service or suggestions, write to [email protected] and support specialists will not only answer all the questions but also guide the new joiners in the world of eco-mining and help them to enjoy it.

Disclaimer The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Stan Peterson
756 Articles
Being an active participant in the Blockchain world, I always look forward to engage with opportunities where I could share my love towards digital transformation.