While the value of Bitcoin is on the decline in early February, the cryptocurrency phenomenon continues around the world. Since the process of mining this currency takes up a lot of energy, some intuitive startups have created ways to reuse this power, such as growing crops from the excess heat. A data center exclusively designed to mine cryptocurrency in Iceland will be fully running on renewable energy.
Bitcoin has seen a sharp decline over the past month, dropping from nearly $17,100 on January 6th all the way to under $8,300 on February 5th. China has added offshore cryptocurrency exchanges to a ban list in order to prevent financial risks. There is a chance that the value could be back on the rise after the US Senate Banking Committee ends their discussions on potential regulations for cryptocurrency.
With how volatile trading is for Bitcoin, it’s hard to know how long it’s going to last. While many learned about the existence of it late last year, it’s actually been around since 2009 and kept a low profile with anonymous trading. Now, depending on the analyst, it’s projected to either be worth $0 or $100,000.