Bitcoin miners are finding creative ways to recycle the heat generated from their equipment. One Netherlands-based mining company - Bitcoin Bloem - has partnered with a Dutch farmer to help heat greenhouses and to cultivate “Bitcoin Flowers.”
Bitcoin Bloem pays for the electricity costs of the miners and provides heat to the greenhouse for free. This partnership gives Bitcoin Bloem access to relatively cheap electricity and the farmer access to a source of heat that had previously been reliant on natural gas. Both parties win through the cultivation of crops, including two flowers that Bitcoin Bloem sells themselves, “White Rabbit” and “Blue Pill.”
In an interview with Cointelegraph, Bert de Groot, founder of Bitcoin Bloem, said that the operation “reduces the use of natural gas” in the greenhouse, as the heat generated from the miner replaces polluting gas heaters. The miner-based heat not only reduces potential pollution, but also offers a much cheaper alternative to natural gas, as energy prices in Europe continue to rise.
The Netherlands remains relatively strict regarding cryptocurrency activities. A recent European Union directive on data sharing, which is set to take effect later this year, will give the Dutch tax authorities the ability to check whether someone owns cryptocurrency. Until now, Dutch authorities trusted that investors were reporting their crypto holdings honestly as "other assets" on their tax returns. The new EU directive - Dac8 - will likely allow Dutch tax authorities to look into cryptocurrency companies' accountancy and gain insight into crypto assets, powers that the tax office already has with traditional banks and pension funds.
Small-scale, grassroots movements like Bitcoin Bloem may help shed more light on the Bitcoin network and ultimately lead to wider-scale adoption.