In a Norwegian village, the Sazmining company is launching a Bitcoin mining operation whose heat will be used to heat buildings and support the local economy. This unique project could redefine mining as a player in energy sustainability in the Polar Circle.
Polar mining: when Bitcoin warms the Far North
Bitcoin mining in the Arctic? The American company Sazmining will launch a Bitcoin mining operation in a Norwegian fishing village. This project will become one of the most northerly mining operations in the world.
Scheduled to open on December 1, the 350m² installation is expected to use an innovative model where heat from mining equipment will heat a local building. It will also participate in drying fish, a key activity in the regional economy.
“ Heat is an essential resource here », Explains Kent Halliburton, CEO of Sazmining, recalling the polar winters at -20°C that the region experiences.
By integrating a Bitcoin mining infrastructure into an already existing building, Sazmining thus replaces the energy-intensive oil boiler and demonstrates that the exploitation of BTC can be synonymous with the circular economy and energy efficiency.
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This model stands out for its ability to transform BTC mining into a local resource for the direct benefit of Arctic residents.
Unlike conventional mining facilities that dissipate heat, Sazmining's uses a liquid circulation cooling system to transfer this thermal energy to the rest of the building.
This approach not only reduces energy costs but also provides thermal comfort adapted to local needs, while keeping noise pollution to a minimum level.
Kent Halliburton hopes this installation will serve as a showcase for other northern communities, proving that a technology often perceived as energy-intensive can actually contribute to environmentally friendly and practical solutions for the polar regions.
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For a sustainable Bitcoin: training legislators on energy issues
This project comes at a strategic time for Sazmining, in a context where mining margins are reducing following the latest reduction in rewards inherent to bitcoin mining due to halving.
The business model is simple as the company offers retail investors the opportunity to mine BTC in an eco-responsible way, with reduced energy costs thanks to Norway's abundant and cheap hydropower.
By adding free heating to the building, Sazmining creates a doubly profitable solution:
We actually use an electron to chop [miner des bitcoins]but we can use this same electron to heat the building. The same electron can therefore be used for two purposes.
This logic of energy optimization is attractive both economically and ecologically, a point which Kent Halliburton insists on:
There is just this surplus [d’énergie] which we can transform into money.
However, enthusiasm is not unanimous. Indeed, Norway recently adopted restrictive measures regarding energy-intensive Bitcoin mining infrastructure, in part because of the carbon footprint associated with them.
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Some lawmakers, including Norwegian Energy Minister Terje Aasland, see bitcoin mining as an activity incompatible with the country's ecological transition.
But Kent Halliburton defends the project, arguing that it helps reduce dependence on fossil fuels by warming the local building:
As our data center heats the building, it would be very difficult for legislators to justify shutting it down, as it would jeopardize a citizen's life during the winter months, so no, we don't think the legislation could be a problem in the future.
Convinced that the example of Sazmining can help change perceptions, he wishes to demonstrate that Bitcoin mining, far from being an energy burden, can become an ally of the local economy and the Arctic climate, thus redefining the role of this technology in the polar regions.
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Source : Sazmining
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