With the passage of time, the need for finding environmentally friendly and renewable sources is increasing. This is the reason people from all over the world are now trying to find reliable energy sources to mine cryptocurrencies.
While different companies and firms are coming up with different energy generation sources, the farmers from the UK have surprised the entire world with their recent approach.
The stats show that farmers from all over the United Kingdom are moving towards new ways of setting up reservoirs for power. The most surprising thing about the UK farmers is the way they are generating energy.
According to reports, UK farmers are using cow waste, commonly known as dung in order to generate energy. Dung is known to be a traditional resource for generating electricity. The electricity generated through dung is carbon-neutral and can be used as a multi-purpose energy source.
Surprisingly, the farmers in the United Kingdom are using the electricity generated from dung for cryptocurrency mining operations. This way, the farmers are able to diversify the energy they are using as well as being able to increase their revenues.
At present, the farmers in the United Kingdom are known to use manure in order to produce electricity. Then these farmers were selling the electricity to the National Grid. National Grid is responsible for producing and providing transmission networks in Wales and England for high voltage electricity.
According to the documented data, the farmers in the United Kingdom are able to make £0.07 for every kilowatt for selling electricity to National Grid. However, the farmers have now realized that using the same electricity to run an Ethereum (ETH) rig may be able to earn them £40 per day.
This means that at the end of the year, the farmers would be able to make $14,886, which is the last annual figure. The farmers generating Ethereum (ETH) is not speculation that is being made at present.
A company named Easy Crypto Hunter, which is a major cryptocurrency mining hardware provider has shared its findings on the matter. The UK-based company has revealed that it has observed a great participation level from the UK farmers for mining cryptocurrencies.
With time, more and more farmers from the United Kingdom are coming in to buy more crypto-mining hardware. They are increasing their energy generation as well as their mining capabilities to make more profits.
The CEO at Easy Crypto Hunter Josh Reddett has talked about the reason behind the high demand of UK farmers for cryptocurrency mining. Lately, the profits from generating and selling electricity to UK electricity companies have almost gone down to zero.
This is the reason why the farmers are now resorting to more constructive and feasible means of generating decent revenues.