VBit DC on WeFunder | Deal Review

Apr 20, 2021 1 min read
Invest in VBit DC: VBit DC is a versatile trend-setter in the bitcoin mining industry. | Wefunder
VBit DC is a versatile trend-setter in the bitcoin mining industry.

VBit DC Overview

Problem Addressed: Due to increased interest, the total power consumption of Bitcoin mining in 2020 is estimated at 77.8 TWh per year which is the equivalent of the entire country of Chile. A single mining transaction uses 686.5 kWh which equates to 23.3 days of power for an average US household. With an average electricity price of $0.12 kWh, the cost of a single transaction is over $82! That seriously harms the profitability of the mining business. Additionally, this amount of power generation is estimated to add over 36.9 metric tonnes of carbon dioxide to the atmosphere which is the same as New Zealand in a year!

The Product: VBit DC's Montana Data facility, entirely based on green, renewable hydroelectric energy, provides access to the cheapest electricity rates globally, plus cooler conditions making it an ideal place to turn dormant manufacturing plants into server farms to mine Bitcoin.

Did I Invest In VBit DC?

I’m still in the process of writing a full deal report and decide whether or not I will invest in VBit DC. I review 100+ startups on 10+ platforms every month and send a detailed report every Saturday to subscribers of the Angel Notes newsletter (you can join through the form below). See you soon!

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