An entrepreneurial cryptocurrency mining company has teamed up with the US firm that converts waste tires to energy, to power its cryptocurrency mining computers.
PRTI, a tire “thermal demanufacturing” company located in North Carolina, announced an unusual deal with Standard American Mining are running graphics cards-based cryptocurrency mining equipment to get several alternative cryptocurrencies, including Ethereum.
To convert waste tires into energy, one heats them to a specific temperature when tires start decomposing. Using tire pyrolysis or thermolysis process helps extract resources such as steel, burnable fuel and carbon black. The extracted fuel serves as the energy source powering turbines which, in turn, produce electricity. Thus, an onsite cryptocurrency mining farm gets its power supply.
The method of an underutilized electricity being used as a means to power computers isn’t new. However, the uncommon set-up proves that