4NEW

The amount of electric power used in mining cryptocurrencies is more than the amount of electricity that is used by an entire country. This pose a great demand on the electricity with no sign of the increase, slowing it down becomes a huge problem. It is estimated that if the trend of such great need continues, in few years the amount of energy that would be used in mining just Bitcoin will be the equivalent to the 20th highest energy consuming country in the world.
The estimated annual mining cost of Bitcoin is now nearly $2 billion, with 262 KWhs used for just 1 single transaction on the average.
The cost of electric has remained about $0.15 per KW over the last few decades putting inflation in consideration, however with many people now embracing the blockchain technology; it will gain wide range usage which could lead to a huge increase in the amount of electric being used. Obviously, there is a great need for electricity in the mining of cryptocurrency. The good news is that there is a project that has come to solve the problem of power generation through proper utilization and management of waste. The name of the project is 4NEW.
What is 4NEW?
“4NEW is an actual producer of energy, converting city waste into electricity with no harmful pollution or residue remaining through a closed combustion chamber. 4NEW’s energy power plants earn enough revenue from cleaning up city waste, that it covers the entire costs of the power plant. 4NEW’s real innovation is then to take this electricity that is generated from the waste and power a massive crypto/bitcoin mining farm. Purchasing the 4NEW KWATT token gives the owner a share in the revenue earned from this crypto mining farm.”