Many cryptocurrencies, including bitcoin (BTC), are “exploited” to exist. The cryptocurrency mining process needs a lot of computing power, so powerful computers that consume electricity. This explains why some people regularly call bitcoin energy-intensive. To remedy this, the American company Product Recovery Technology International (PRTI), which specializes in the recovery of waste tires, has chosen to use the energy obtained by the recycling process for mining bitcoins.
Power Bitcoin Mining
The crypto mining industry is increasingly environmentally conscious. However, although the majority of the one billion scrap tires generated are recycled, as shown in this tire counter, the treatments used often lack efficiency in addition to causing other environmental problems. Product Recovery Technology International (PRTI) is revolutionizing waste tire recovery and putting its technology at the service of cryptocurrency mining.
This company located in North Carolina, USA, uses a patented near-zero waste process to transform old tires. Recycling produces oil, syngas, coal and even steel. Even better, the company uses the gas generated by waste treatment to generate electricity. The latter will feed the mining of bitcoins on a mining farm established on site.
Monetize energy for bitcoin mining
The ability to monetize energy in these circumstances is particularly exciting, says Chris Hare, CEO of PRTI. He continues his explanation. Most of the big data centers are, he says, in cold countries, which is far from the case for North Carolina. His company’s process is unusual. But it works. PRTI sees this innovation as the testing ground for an energy revolution.
The process is scalable. The energy could be used for other purposes, and the company plans to deploy it at other sites in the United States and internationally, including in Europe. Bitcoin offers a new way to use energy. Seen in this light, PRTI plans to multiply factories to mine bitcoin while reducing used tires in the United States and around the world.
To conclude,
The problem of used tires is decades old and successive proposals have failed to solve it effectively. Some of them only shift the problem. But this PRTI zero-waste process sounds like a revolution. The company recognizes that its innovations are only a drop in the ocean given the magnitude of the project in terms of waste and environmental problems. However, by expanding its operations, the company will be able to process more tires, remove them from the environment and turn them into a viable energy source. To go further, you can find our article about Green Bitcoin Mining.
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