Russian crypto miners will be celebrating their version of the World Wildlife Fund’s once a year movement, Earth Hour, wherein all electricity is turned off for an hour to draw attention to energy consumption.
Local news outlet Rambler reported that Russian crypto miners would celebrate “Crypto Hour” to remind the crypto community of the importance of more ecological-friendly blockchain technologies. They encouraged crypto miners across the globe to turn off their mining equipment on March 24, starting 20:30 to 21:30 (local time).
The Crypto Hour campaign is led by CryptoLife founder and member of the Russian Duma’s expert council for FinTech development, Peter Dvoryankin. The founder told Rambler that the goal of the campaign is to create “ecological mining” maps that will help people determine the most ecologically-friendly places to mine crypto based on their proximity to renewable energy sources in areas with the appropriate temperatures.
Moreover, Dvoryankin mentioned that the campaign also calls for “the creation of systems to use the heat generated in the process of mining and develop less energy-intensive distributed ledger technologies.”
Rambler outlines that the Bitcoin (BTC) network alone consumes over 50 terawatt hours of energy every year, adding that BTC mining will use as much electricity as the rest of the world combined by 2020 if the usage continues at the present rate.
In February, it was reported that crypto mining in Iceland would be consuming more energy than all the households in the nation within the year.
More than 50,000 individuals have promised online to participate in the hour-long blackout while Rambler reported more than 30 million Russians planning to join. The Russian website also enables participants to vote for protecting natural land reserves, recycling, and green energy utilization, with their votes to be sent to the future Russian president.
The problem on how to maximize excess energy made by mining has been brilliantly addressed by a Czech blockchain startup which plans to utilize this surplus to heat greenhouses to grow edible crops.
On the other hand, a clean energy mining initiative was banned in Europe after being rejected by one of Europe’s most significant power utility companies to sell renewable energy to crypto mining business Envion this February.