How a Startup Is Supplying a Whole City With Heat From Bitcoin Mining

North Vancouver, British Columbia, will be the world’s first city to be heated by bitcoin mining.

AccessTimeIconOct 14, 2021 at 4:18 p.m. UTC
Updated May 11, 2023 at 7:07 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

MintGreen, a Canadian cleantech cryptocurrency miner, is working with Lonsdale Energy Corp. to supply heat to the city of North Vancouver, British Columbia, from bitcoin mining.

The heat source will be introduced in 2022 and will prevent 20,000 metric tons of greenhouse gas per megawatt from entering the atmosphere compared with natural gas, according to a statement shared with CoinDesk.

MintGreen’s proprietary “Digital Boilers” recover 96% of the electricity used for bitcoin mining as heat that is then used to supply communities and for industrial processes.

The company uses an “immersion” technology that captures the heat generated in mining and goes to hot water utilities known as “District Energy,” which is then distributed to the customers, MintGreen’s CEO, Colin Sullivan, explained to CoinDesk in an interview.

The utility working with MintGreen serves about 100 buildings and the company will sell the heat under a contractual long-term agreement, Sullivan added.

On March 16, digital asset manager CoinShares said it participated in MintGreen’s seed investment round, noting that the miner’s “immersion” system captures and transfers the heat generated by crypto mining servers to industrial-scale hot water utilities.

Using heat from bitcoin mining is not new; rather, it has been happening around the world on a smaller scale.

MintGreen aims to have the system up and running by winter of next year in what would be the first deployment of the company’s technology on a large scale, according to Sullivan.

The City of North Vancouver’s population was 52,898 as of the 2016 census.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

Aoyon Ashraf

Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.