Could This Industry Spark a Bitcoin Rally?
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There is a new trend emerging in the world of Bitcoin (CRYPTO: BTC) mining. Traditionally, Bitcoin mining was done by either individuals or companies that had the resources to power the energy-intensive computer rigs used for the task -- and to cool them, too. Cheap accessible electricity is one of the primary factors required for any entity that aims to mine Bitcoin profitably.
Now, companies in the energy industry are starting to realize that their ease of access to cheap power could make mining the crypto a lucrative opportunity.
In a revolutionary move, Japan's largest electricity provider, TEPCO, said this month that it would begin harnessing its unused energy reserves to power Bitcoin mining rigs. Rather than just wasting that energy, TEPCO will divert it to increase profits and diversify income. For every hash TEPCO's rigs successfully solve on the blockchain, it will be rewarded with 6.25 Bitcoins, generating a profit of about $100,000 based on the current price of the crypto.
Source Fool.com
