Published on: April 21st, 2021 • Duration: 52 minutes
Daniel Jonsson, CEO of GreenBlocks, joins Sebastian Moonjava, Real Vision associate editor, to discuss crypto mining, the popularity of crypto in Iceland, and the need for green mining. Jonsson explains what bitcoin mining is and the importance of its energy use for securing the network. Iceland is a major hub for crypto mining, and Jonsson notes that the plentiful green energy in the region as well as the ability of miners to use stranded energy provided by the isolated country might explain its draw. He also notes that crypto mining is one of the
first green alternatives Iceland has to export its energy. Filmed on April 9, 2021.
Key Learnings: Iceland runs on 100% green energy, and this is attractive to companies looking to mine Bitcoin in an environmentally friendly way. Stranded energy—energy that is not feasible to efficiently transport—is readily available in Iceland, and Bitcoin mining is a perfect use for it as it can profitably use the energy on location.