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    Home » Crypto Miners Innovate New Ways of Working to Stay Afloat As Energy Costs Hit The Roof
    News

    Crypto Miners Innovate New Ways of Working to Stay Afloat As Energy Costs Hit The Roof

    Samantha MitchellBy Samantha MitchellJuly 11, 2022Updated:July 12, 2022No Comments3 Mins Read
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    cost of Crypto mining has been increasing
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    The year has been eventful for Crypto miners. They are getting hit with rising energy costs and increased government regulation amidst the bear market. Despite the tough environment, miners are getting creative by adopting ways of expanding their margins.

    Two prominent Crypto miners, Chris Vega and Michael Carter, have shared some insight into how the community is keeping energy prices low.

    Besides leveraging the bear market, the miners also circumvent the increasing energy costs overheads. As a result of their resilience, they have been able to stay afloat.

    Miners play an instrumental role in increasing the circulating supply of Cryptos such as BTC. The leading Crypto, for instance, has a circulating supply of 19 million BTC.

    How To Keep Energy Bills Low

    The US Chamber of Commerce projects that electricity inflation will be steeper in New England at 16.4% this summer. The Southwestern region will have the lowest increase at 2.4%, which is lower than the national average of 5%. According to Vega, a Florida-based Crypto miner, the option of moving to a new state is an idea that most miners have opted for already or are mooting.

    The Government Incentivizes the Use of Renewable Energy

    Crypto miners can earn tax relief, refunds, and rebates by opting for clean energy sources such as wind and solar. A leader of a Crypto mining venture based in St Louis, Missouri, highlights that the government can refund up to half of the solar system installation cost. The program may address environmental lobbyists’ long-standing criticism of Crypto miners over carbon emissions.

    Depending on whether a Crypto miner is a stay-at-home or corporate, the business’s nature determines the transition to alternative energy sources. An individual miner can, for example, relocate out of state, while a corporate may require a longer adjustment time.

    Crypto Mining is Still Rewarding

    BTC has dipped by more than 70% since its peak in November, but miners are still optimistic that a rally is in the offing. Vega highlights that the optimism is better illustrated by the fact that mining equipment is not being offloaded. However, starters who bought their rigs at the height of the Bull Run are losing their equipment after acquiring them at a premium.

    In the meantime, miners have to adjust to the energy inflation by cutting costs to make positive returns in the bear market. Mining Crypto remains the easiest way of building wealth. Miners can buy rigs on eBay for as low as $300. Carter offers technical guidance for developing a setup online. For first-time adopters who may find technical mining time-consuming and complex, StormGain offers a unique user experience for miners on its BTC cloud mining tool tab.

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    Samantha Mitchell
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    Sam Mitchell is a Freelance Writer & Fitness Instructor from South Africa, living in Australia. She comes to the team with extensive writing and Social Media experience, covering a wide variety of genres from blog posts, book reviews, Whitepapers, blogs and guides to news pieces...and more. Sam has been Freelancing for over 17 years, working with many different clients. You can get in touch with Sam at www.stmwritingsolutions.com

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      • NEM (XEM) Price Prediction For 2023, 2025, 2030
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      • XYO Token Price Prediction 2023, 2025, 2030 – Full Forecast
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    • au
      • Cryptocurrency
        • How To Buy Bitcoin In Australia (2022)
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        • BTC Markets Comprehensive Review 2022 – Fees, Pros, and Cons
      • investing
        • How To Invest In Silver Australia?
        • How To Invest In Cryptocurrency In Australia (2022)
        • How To Invest In Gold Australia? The Full Guide
    • za
      • trading
        • Best Trading Apps in South Africa
        • Best Trading Platforms In South Africa
      • cryptocurrency
        • How To Buy Ripple (Xrp) In South Africa
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        • Buy Cryptocurrency in South Africa
        • Best Bitcoin Exchanges in South Africa
        • How to Buy Dogecoin South Africa | Beginners Guide
      • investing
        • Invest and Buy Shares in South Africa
    • ca
      • cryptocurrency
        • Best Crypto Exchange Platforms In Canada
        • Best Crypto Wallets In Canada – Reviews & Comparison
        • How To Buy Cryptocurrency In Canada – The Complete Guide
        • How To Buy Bitcoin In Canada: Your Starter Guide
        • Top Exchanges To Buy Ripple In Canada
        • Wealthsimple: Comprehensive Review 2022 – Fees, Pros, and Cons
        • Newton Crypto Exchange Review 2022 – Fees, Pros, and Cons
        • BitBuy Comprehensive Review: Is Bitbuy Safe & Legit?
      • brokers
        • Questrade vs. Wealthsimple – Who is the Winner – Our Comparison Test
      • loans
        • Best Online Payday Loan In Canada
    • uae
      • cryptocurrency
        • How to Buy Bitcoin In UAE – Step By Step Guide
        • Buy Cryptocurrency In UAE – Beginner’s Guide
        • Best Cryptocurrency Exchanges In UAE
      • brokers
        • Best Forex Brokers In The UAE – Top 5 Brokers
    • ie
      • brokers
        • Best Stock Brokers In Ireland – Top 8 Brokers
      • cryptocurrency
        • Best Crypto Wallets In Ireland – The Full List
        • Best Crypto Exchanges In Ireland – Top 8 Exchanges
        • Best Bitcoin Buying Platforms In Ireland – The Complete Guide
      • trading
        • Best Stock Trading Apps In Ireland – Top 8
      • stocks
        • Detailed Guide To Buy Stocks In Ireland
      • loans
        • Top Payday Loan Organizations In Ireland – The Full Guide
    • sg
      • cryptocurrency
        • How To Buy Bitcoin In Singapore – Step By Step Guide
        • How To Buy Cryptocurrency Singapore – Beginner’s Guide
    • qa
      • cryptocurrency
        • How to Buy Bitcoin in Qatar – Beginner’s Guide
        • Top 6 Crypto Exchanges In Qatar – The Full list
    • sa
      • cryptocurrency
        • Buy Cryptocurrency In Saudi Arabia – Best Ways To invest In Crypto In Saudi Arabia
        • How To Buy Bitcoin In Saudi Arabia – Step By Step Guide
        • Forex Trading In Saudi Arabia – Beginners Guide
      • trading
    • brokers
      • Betterment vs. TD Ameritrade: Best or Better
      • tastyworks or Robinhood: Which Broker Should You Choose?
      • chime or Cash App: Which Broker Is Best?
      • NinjaTrader vs. TradeStation: Our Comparison
      • eToro vs. Webull – Who is the Winner – Our Comparison Test
      • TD Ameritrade vs Webull: Which Online Investment Broker is Best for You
      • E*TRADE vs. Merrill Edge: Brokers compare
      • The Battle of the Big Guys – Binance vs. eToro
      • Affiliate Nation Review: Should You Trust It?
      • Betterment VS Axos: The Showdown
      • AMP Futures Comprehensive Broker Review 2022
      • Dorman Trading vs. PhillipCapital: which is the best futures trading broker
      • Our Evaluation of Interactive Brokers compared to Lightspeed
      • Capital Index Comprehensive Broker Review 2022
      • tastyworks vs. Webull: Which Broker Should You Choose
      • CapTrader Broker Review 2022: Key Features, Pros & Cons
      • CenterPoint Comprehensive Broker Review 2022
      • Stash vs Betterment: Which broker is better for you?
      • Chase Private Client Review 2022: Fees and Requirements
      • webull vs public: Which Broker Is Better?
      • Webull vs E*TRADE: Which Broker Is Better For You?
      • eToro Australia Review 2022 – All You Need To Know
      • Wise (formerly TransferWise) vs. Revolut – Who Will Manage My Money Better?
      • bitquick vs Coinbase: The Little Broker with lower fees
      • Ally vs Charles Schwab: Which one Is The Best Broker For You?
      • M1 vs Fidelity – Traditional or Digital Age
      • Acorns vs. Betterment: Which Broker Is Best For You?
      • Ally Invest vs TD Ameritrade: Which Do You Want – Managed or Self-Directed Brokers
      • IG vs OANDA – Side by Side Comparison of the Forex Giants
      • FOREX.com vs Robinhood: Which Broker Is Better for You?
      • Easy Forex Comprehensive Review 2022
      • Fidelity Investments vs Interactive Brokers: Which broker is the right one for you?
      • Robinhood vs eToro – Which is better for crypto, stocks, and more?
      • Firstrade vs Robinhood – The No Commissions Brokers Side by Side
      • FX Capital Online: Comprehensive Review 2022
      • tastyworks vs Interactive Brokers: Which Broker Is Better?
      • FXView Review 2022: All Need To Know
      • Stash vs. Webull – Which Broker App Wins
      • ICM Capital Review 2022: Pros, Cons and Key Features
      • Robinhood Application: Comprehensive Review 2022
      • Learn 2 Trade Comprehensive Review 2022
      • Webull vs Moomoo: Which Broker Is The Best For You?
      • Ustocktrade Comprehensive Review 2022: Key Features, Pros & Cons
      • MultiCharts Comprehensive Review 2022: All You Need To Know
      • Alpaca Trading Review 2022: Pros, Cons & Key Features
      • Tradovate Review 2022: Pros, Cons & Key Features
      • KOT4X Vs HUGOSWAY— Which Broker Is Better?
      • SoFi vs Webull – The Perfect Place for Newbies
      • M1 Finance vs TD Ameritrade – Which Is The Best Broker for You?
      • KOT4X – Kings of Transparency: Independent Review
      • Voya Financial vs Fidelity – Independent Comparison
      • Questrade Independent Review: Features, Fees & Costs
      • Active Trader Pro vs Thinkorswim: Which Broker Is Better?
      • Hankotrade vs KOT4X: Which Broker Is Better For You?
      • Charles SCHWAB vs Merrill Lynch – Full-Service Brokers
      • Swissquote Independent Review
      • Ally Invest vs SoFi Invest – Independent Comparison
      • Kraken vs eToro: Which Broker Is The One For You?
      • Xtrade (OffersFX) Independent Review: Features & Fees
      • Acorns Invest vs Webull: Great But Way Different
      • tastyworks vs thinkorswim: Comparison of the hottest online brokers
      • Vanguard vs Robinhood: Independent Comparison
      • Charles Schwab vs Betterment – Portfolios & Robo Advisors
      • OANDA vs FOREX.com: Independent Comparison
      • E-Trade vs Fidelity: The Best of the Best
      • Charles Schwab vs Webull: Managed or Self-Directed Investing?
      • TD Ameritrade (amtd) vs TradeStation – What Next For These Powerhouses
      • Ally Invest vs Fidelity: Independent Comparison
      • NinjaTrader vs. thinkorswim: Independent Comparison
      • E*TRADE from Morgan Stanley vs thinkorswim (TOS) – The Battle of the Giants
      • Fidelity vs JP Morgan Chase: Brokerage Compare Review
      • Robinhood vs. Merrill Edge – Independent Comparison
      • Webull vs TradeStation: Independent Comparison
      • Merrill Edge vs Charles Schwab: Which Broker Is Better For You?
      • tastyworks vs TD Ameritrade: Brokerage Compare Review
      • Merrill Edge vs Fidelity: Different & Unique
    • loans
      • Emergency Loans for Bad Credit: 5 Best Providers
      • These 4 Companies Offer Cash Loans Wired in 1 Hour
      • 5 Best Cash Loans Online
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      • All About Pre Approved Installment Loans
      • Installment Loans From Direct Lenders
      • All You Need to Know About 100 Dollar Loans
      • 5 Companies Offering Easy Tribal Loans For Bad Credit
      • 7 Companies Offering a 500 Dollar Loan
      • 5 Companies Offering No Guarantee Loans
      • 5 Lenders Offering Easy Loans
      • Make your Holidays Exciting with these Christmas Loans
      • Payday Loans for Unemployed People
      • 5 Alternatives for Loans like Lendly
    • cryptocurrency
      • exchanges
        • Binance: Comprehensive Review 2022 – Fees, Pros, and Cons
        • Kraken: Comprehensive Review 2022 – Fees, Pros, and Cons
        • Gemini Extensive Review 2022 – Fees, Pros, and Cons
        • Bitstamp Comprehensive Review – Fees, Pros, and Cons
        • Blockchain.com Comprehensive Review 2022 – Fees, Pros, and Cons
        • Liquid.com Comprehensive Review 2022 – Fees, Pros, and Cons
        • Bitvavo: Comprehensive Review 2022 – Fees, Pros, and Cons
        • CoinMetro Comprehensive Review 2022 – Fees, Pros, and Cons
        • CoinJar: Comprehensive Review 2022 – Fees, Pros, and Cons
        • Coinmate Comprehensive Review 2022 – Fees, Pros, and Cons
        • CoinEx: Comprehensive Review 2022 – Fees, Pros, and Cons
        • WhiteBIT: Comprehensive Review 2022 – Pros, Cons and Key Features
        • Pionex Detailed Review 2022 – Crypto Trading Bots & Exchange
        • StormGain Comprehensive Review 2022
        • FTX Exchange Comprehensive Review 2022: Pros, Cons and How It Compares
        • Phemex Exchange Comprehensive Review 2022
        • ByBit Comprehensive Review 2022 – Features, Fees, Benefits & Cons
        • bitFlyer Comprehensive Review 2022 – Features, Fees, Pros & Cons
        • Huobi Global: Comprehensive Review 2022 – Features, Fees, Pros & Cons
        • CoinOne Comprehensive Review 2022 – Pros, Cons and Key Features
        • CEX.IO Comprehensive Review 2022 – Pros, Cons and How to Start Trading
        • EXMO Exchange Review 2022 – Pros, Cons & Features
        • Bithumb Comprehensive Review 2022 – Pros, Cons and Key Features
        • OKEx Crypto Exchange: Detailed Review
        • OkCoin Detailed Review 2022 – Pros, Cons and Key Features
        • WazirX Comprehensive Review 2022
        • Bitrue Review 2022: Is It Safe To Use?
        • CoinTiger Comprehensive Review 2022 – Features & Fees
        • HotBit Comprehensive Review 2022 – Is It Legit & Safe To Use?
        • HitBTC Comprehensive Review 2022: Pros, Cons and Key Features
        • Luno Comprehensive Review 2022 – Pros, Cons, Fees, Features, and Safety
        • Coinsbit Comprehensive Review 2022: Pros, Cons and Key Features
        • KuCoin Comprehensive Review 2022: Full Overview
        • Gate.IO Comprehensive Review 2022: How Secure is Gate.IO?
        • Coinbase Comprehensive Review 2022: pros, cons & Key Features
        • NiceHash Detailed Review 2022: Key Features, Pros & Cons
        • Bitget Review 2022: Pro, cons & Key Features
        • Crypto.com Review 2022: Key Features, Pros & Cons
        • Bittrex Review 2022: Key Features, pros & Cons
        • Bitfinex Comprehensive Cryptocurrency Review 2022
        • Poloniex Review 2022: Fees & Key Features
        • BitMart Comprehensive Review 2022: Key Features, pros & Cons
      • Buy Crypto & Bitcoin With American Express | Beginners Guide
    • crypto
    • th
      • cryptocurrency
        • How To Buy Bitcoin In Thailand – Step By Step Guide
        • Best Crypto Exchanges In Thailand – The Complete Guide
    • ph
      • cryptocurrency
        • Best Ways To Invest In Bitcoin In Philippines – Buy Bitcoin In Philippines
        • Best Bitcoin Wallet In The Philippines
        • Top 10 Cryptocurrency Exchanges In The Philippines
    • Wrapped LUNA Classic (WLUNC) Price Prediction: 2023, 2025, 2030
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