Tag: Offsetting

Global Chip Supplier Expects Low Demand for Crypto Mining, Offsetting Q4 Revenue Growth

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Major global chip manufacturing firm Taiwan Semiconductor Manufacturing (TSMC) predicts revenue growth in Q4, but expects a counterbalance due to the low demand for crypto mining hardware, Reuters reports Thursday, Oct. 18. TSMC, the world’s largest independent semiconductor foundry, forecasts “modest” revenue growth in the fourth quarter, mainly due to solid sales of high-end chips for premium smartphones. According to Reuters, TSMC is expecting Q4 revenue to increase to somewhere between $9.35 billion and $9.45 billion, as compared to $9.21 billion a year ago. However, the expected growth will be…

Soluna Bets Big on Offsetting Bitcoin Energy Consumption

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As Bitcoin mining operations ramp up worldwide the electrical cost of mining is drawing the ire of municipalities and environmental groups alike. However, Soluna is looking to offset the carbon footprint of mining Bitcoin through its wind power plant in the Sahara Desert. Wind-Powered Mining Current estimates put bitcoin mining power consumption at around 2.55 gigawatts, which means that the network uses almost as much energy as the country of Ireland. With the exponential increase in mining operations and thousands of Bitcoins still to mint, the problem is only growing. A…