Post
Topic
Board Mining
Re: Venezuela bans crypto mining
by
mindrust
on 19/05/2024, 19:02:40 UTC
Can solar power able to mine bitcoins/ Crypto Strongly? If possible strongly it will be good.

This move follows a recent crackdown involving the confiscation of 2,000 cryptocurrency mining devices as part of an anti-corruption initiative.

https://cointelegraph.com/news/venezuela-bans-crypto-mining-to-protect-power-grid

No, solar is useless for mining crypto. The batteries are the main problem. They cost a lot and they go bad after a few thousand full cycles and bitcoin miners are power hungry which means the batteries will get killed very fast. Another problem is that you should always keep the batteries full and that means you have to pump lots of solar power into them all the time and that's also not possible because the sun isn't always up. The batteries will go low quickly the moment you stop getting solar power from the panels.

When you do the math, you'll see that a solar mining setup would make you lose a lot of money. Solar is only good for your daily activities like charging phone/laptop, watch tv etc. Many solar systems struggle to keep a basic fridge on.