Tom Carreras is a markets reporter for CoinDesk. He holds BTC, ETH and SOL above CoinDesk's disclosure threshold of $1,000.
Sazmining is setting up a bitcoin mining site in northern Norway that will heat a large building in a fishing village.
The big idea? To remove the old oil boiler used by one of the town's largest buildings, replace it with an in-house bitcoin-centric data center and warm the edifice using the tremendous heat produced by the mining rigs. "For the locals, it's kind of like, you need to see it to believe it," Halliburton said."This will be helpful for them to understand that it's not bleeding edge technology, but it's pretty tested and it can be deployed now."Mining rigs are designed to perform intense computational processes, and they get quite hot. There are a few ways to cool them down, such as with fans or by immersing them in big tubs of dielectric fluid.
But it does come with perks, too. Liquid cooling means the machines will be very quiet and won't bother anyone in the building. Visitors will be able to see the mining rigs through a plexiglass wall, Halliburton said. In fact, with a service fee of $0.046 per kilowatt hour, Sazmining clients should be able to acquire bitcoin for less than $54,000, Halliburton said. For comparison, B Riley Securities recently said that the estimated average power costs for the sector is around $0.045 per kilowatt-hour. (
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