Enabling Renewable Energy Investment with Bitcoin Mining and Community Impact

Enabling Renewable Energy Investment with Bitcoin Mining and Community Impact

    Presenter(s)

    Lu Hao

    Comments

    Presentation: 9:00 a.m.-10:15 a.m., Kennedy Union Ballroom

    Description

    Food desert, electricity power shortage and climate change are the current global issues we are facing. With cryptocurrency investment craze, Bitcoin is becoming more and more popular among young professionals or investors. Bitcoin mining currently consumes around 117 Terawatt Hours per year — 0.55% of global electricity production. Renewables account for just 39% of crypto mining's total energy consumption. As Bitcoin market grows, it is essential to insure power for BTC comes from renewable sources. The system we’ve devised for Dayton area includes: 1)Explore the viability of using landfill gas to produce electricity for mobile cryptocurrency mining containers. 2)Evaluate the potential for using waste heat from mining servers to heat mobile container farms. 3)Propose modular and cost effective design for Landfill Gas Generated Electricity -Cryptocurrency Mining-Indoor Farm system. According to Feeding America in 2019, almost 20% of Dayton is food insecure. From the indoor farm we can produce the nutritional crops 2~4 millions pounds. The payback period between 0.7 years and 2.4 years. Annual revenue by system will be $51M.

    Publication Date

    4-20-2022

    Project Designation

    Graduate Research

    Primary Advisor

    Kevin P. Hallinan

    Primary Advisor's Department

    Mechanical and Aerospace Engineering

    Keywords

    Stander Symposium project, School of Engineering

    United Nations Sustainable Development Goals

    Sustainable Cities and Communities; Climate Action

    Enabling Renewable Energy Investment with Bitcoin Mining and Community Impact

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