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Solar and wind energy installations could earn hundreds of millions of dollars by mining bitcoin during periods of excess electricity generation, according to a new study. Scientists from Cornell University in the US, who conducted the research, said setting up mining operations could reduce the environmental impact of cryptocurrency, while also providing revenue that could be reinvested in future renewable energy projects. “Profitability of a mining system hinges on periods of steady energy availability since renewable energy sources can vary significantly,” said Fengqi You, a professor of energy systems at Cornell University. “Therefore, it is important to site the mining farm strategically to maximise productivity.” The state with the most potential for setting up profitable crypto mining operations is Texas, according to the study, with 32 planned renewable projects capable of generating combined profits of $47 million. California, Colorado, Illinois, Iowa, Nevada and Virginia all showed potential, though setting up mining rigs presents a large initial cost. One way of incentivising such projects, Cornell doctoral student Apoorv Lal suggested, could be the introduction of new policies that provide economic rewards for mining bitcoin and other cryptocurrencies with clean energy ”These rewards can act as an incentive for miners to adopt clean energy sources, which can lead to combined positive effects on climate change mitigation, improved renewable power capacity, and additional profits during pre-commercial operation of wind and solar farms,” Mr Lal said. “We also recommend policies that encourage cryptocurrency-mining operations to return some of their profits back into infrastructure development. This would help create a self-sustaining cycle for renewable energy expansion.” Bitcoin has drawn criticism from environmentalists for the vast amounts of electricity required to support its network and mint new units of the cryptocurrency, with recent analysis from the University of Cambridge estimating that it uses roughly the same amount of electricity as Poland. The plummeting costs of renewable energy mean bitcoin miners are increasingly turning to solar, wind and hydro sources to power their operations. “In its current status, the infrastructure that supports the Bitcoin protocol cannot be sustained, but the beauty of the protocol is that the incentive structure will force miners to adopt the cheapest form of electricity, which in the near future will be renewable energy,” Don Wyper, COO of DigitalMint, told The Independent last year. The latest study, titled ‘From mining to mitigation: how bitcoin can support renewable energy development and climate action’, was published in the journal ACS Sustainable Chemistry & Engineering. Read More Bitcoin mining rate hits all-time high amid record-breaking prediction for 2024 Nasa has received a signal from 10 million miles away Scientists reveal surprise finding from huge study into internet and mental health Nasa has received a signal from 10 million miles away Scientists reveal surprise finding from huge study into internet and mental health Software firm Cloudsmith announces £8.8m investment

If you’re anything like us, the first coffee of the day is the only thing that can get us up on a morning – and it turns out, there’s real science behind it. Everyone knows that coffee can give us a welcome caffeine hit, but it’s now been revealed that the drink also gives us an extra ‘special boost’ too. Scientists have claimed that the act of drinking a cup of joe gives the body a lift, making us more alert, which can’t be replicated merely with caffeine. In fact, new research shows that drinking hot coffee activates additional areas of the brain. Sign up to our free Indy100 weekly newsletter Scientists from the University of Minho in Portugal and elsewhere looked into the effects of coffee outside of just caffeine content as part of a study – and they found that plain caffeine didn’t have the same impact. In fact, a cup of coffee also influenced working memory and goal-directed behaviour. “There is a common expectation that coffee increases alertness and psychomotor functioning. When you get to understand better the mechanisms underlying a biological phenomenon, you open pathways for exploring the factors that may modulate it and even the potential benefits of that mechanism,” study co-author Nuno Sousa explained. Experts said that drinking coffee actually increased the connectivity in the brain’s more advanced nerve network controlling vision, and other parts involved in working memory, cognitive control and goal-directed behaviour – something not found when participants only took caffeine. Researchers also said that if subjects wanted to not just feel alert but ready to go, caffeine alone might not do the job. “Acute coffee consumption decreased the functional connectivity between brain regions of the default mode network, a network that is associated with self-referential processes when participants are at rest,” study co-author Maria Picó-Pérez said. “The subjects were more ready for action and alert to external stimuli after having coffee,” she added. Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.

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