BITCOIN MINING IS AN INDUSTRY THAT PAYS ITS WAY. BOTH IN A FINANCIAL SENSE AND ALSO THE ADDED VALUE IT BRINGS BY SUPPORTING ENVIRONMENTAL INFRASTRUCTURE.
This page has been specifically created for the Labour Party and includes links to some of the most up-to-date articles, information and peer-reviewed research on Bitcoin mining operations.
Bitcoin Policy UK are increasingly being contacted by innovators and mining operators in the Bitcoin space who have a vision of how a Labour Party in power can leverage Bitcoins’ ability to use wasted and stranded energy to generate value for the country.
These are the basics of how Bitcoin mining operations help:
1 - Bitcoin miners (computer-based devices that secure the Bitcoin network) need cheap electrical energy to operate.
2 - In the UK we do not have cheap electricity but we do have sources of renewables that either over-produce or sources that cannot be connected to the grid due to economic reasons.
3 - We also have a myriad of producers of methane (CH4 produced by oil and gas, agriculture and landfill), a greenhouse gas up to 80x more potent than CO2. CH4 can be used by Bitcoin mining operations to generate electricity.
4 - Bitcoin miners can be situated at remote locations making them a perfect partner for locations that find it too expensive to build the connections to the main grid infrastructure.
In conclusion, Bitcoin mining operations create jobs, balance out the energy grid, reduce greenhouse gas emissions and produce tax revenue.
Bitcoin Policy UK
ARTICLES, PEER REVIEWED PAPERS AND OTHER INFORMATION