BURLINGTON, Mass.--(BUSINESS WIRE)--Aug 22, 2023--

By Shivangi Acharya NEW DELHI U.S. trade chief Katherine Tai has raised concerns with India over the Asian

Solar and wind energy installations could earn hundreds of millions of dollars by mining bitcoin during periods of excess electricity generation, according to a new study. Scientists from Cornell University in the US, who conducted the research, said setting up mining operations could reduce the environmental impact of cryptocurrency, while also providing revenue that could be reinvested in future renewable energy projects. “Profitability of a mining system hinges on periods of steady energy availability since renewable energy sources can vary significantly,” said Fengqi You, a professor of energy systems at Cornell University. “Therefore, it is important to site the mining farm strategically to maximise productivity.” The state with the most potential for setting up profitable crypto mining operations is Texas, according to the study, with 32 planned renewable projects capable of generating combined profits of $47 million. California, Colorado, Illinois, Iowa, Nevada and Virginia all showed potential, though setting up mining rigs presents a large initial cost. One way of incentivising such projects, Cornell doctoral student Apoorv Lal suggested, could be the introduction of new policies that provide economic rewards for mining bitcoin and other cryptocurrencies with clean energy ”These rewards can act as an incentive for miners to adopt clean energy sources, which can lead to combined positive effects on climate change mitigation, improved renewable power capacity, and additional profits during pre-commercial operation of wind and solar farms,” Mr Lal said. “We also recommend policies that encourage cryptocurrency-mining operations to return some of their profits back into infrastructure development. This would help create a self-sustaining cycle for renewable energy expansion.” Bitcoin has drawn criticism from environmentalists for the vast amounts of electricity required to support its network and mint new units of the cryptocurrency, with recent analysis from the University of Cambridge estimating that it uses roughly the same amount of electricity as Poland. The plummeting costs of renewable energy mean bitcoin miners are increasingly turning to solar, wind and hydro sources to power their operations. “In its current status, the infrastructure that supports the Bitcoin protocol cannot be sustained, but the beauty of the protocol is that the incentive structure will force miners to adopt the cheapest form of electricity, which in the near future will be renewable energy,” Don Wyper, COO of DigitalMint, told The Independent last year. The latest study, titled ‘From mining to mitigation: how bitcoin can support renewable energy development and climate action’, was published in the journal ACS Sustainable Chemistry & Engineering. Read More Bitcoin mining rate hits all-time high amid record-breaking prediction for 2024 Nasa has received a signal from 10 million miles away Scientists reveal surprise finding from huge study into internet and mental health Nasa has received a signal from 10 million miles away Scientists reveal surprise finding from huge study into internet and mental health Software firm Cloudsmith announces £8.8m investment

ARLINGTON, Va.--(BUSINESS WIRE)--May 11, 2023--

Meta on Tuesday started blocking Canadians' access to news on Facebook and Instagram in response to a new law requiring digital giants to...

Scientists have decided it’s official – people do not necessarily have to believe in a “god” to have a moral compass. A group of four University of Illinois surveys found that while there were subtle differences in behaviour between groups of atheists and religious people – or “theists” – they live by the same moral codes. Tomas Ståhl of the University of Illinois said: “The most general take-home message from these studies is that people who do not believe in God do have a moral compass. "In fact, they share many of the same moral concerns that religious believers have, such as concerns about fairness, and about protecting vulnerable individuals from harm.” The first two surveys crowdsourced responses from hundreds of American residents, and found that religion was unrelated to amoral tendencies, whether people would endorse liberty or oppression or whether people cared about being fair to others. The second two surveys compared thousands of people across the US and Sweden, which is a much more secular country. The data came up with the same results. Mainstream religions are on a downward trend worldwide. In the UK, for example, just 46 percent of people identified as Christian in the 2021 census, compared to 59 percent in 2011. The US has seen similar declines. Ståhl added: “However, disbelievers are less inclined than believers to endorse moral values that serve group cohesion, such as having respect for authorities, ingroup loyalty, and sanctity… “It is possible that the negative stereotype of atheists as immoral may stem in part from the fact that they are less inclined than religious people to view respect for authority, ingroup loyalty, and sanctity as relevant for morality, and they are more likely to make moral judgments about harm on a consequentialist, case by case basis.” It’s news that will come as little surprise to the estimated 750 million atheists across the globe, of course. But for people who still think religion is the key to morality, it could be food for thought. How to join the indy100's free WhatsApp channel Sign up to our free indy100 weekly newsletter Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.

(This story has been refiled to fix the dateline) By Foo Yun Chee and Chavi Mehta The U.S.

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