Utah company develops sustainable Bitcoin mining method; new home sales drop 5.9%


Encryption corner

A microgrid company in Woods Cross, Utah may have a solution Elon MuskSustainability challenge Bitcoin mining.

“Cryptocurrency is a good idea on many levels. We believe it has a promising future, but it will not cause huge damage to the environment,” Musk wrote on Twitter. “Tesla The use of Bitcoin to purchase vehicles has been suspended (because) we are concerned about the rapid increase in the use of fossil fuels in Bitcoin mining and trading, especially coal, whose emissions are the most serious of all fuels. “

CleanSpark is a company that uses microgrid technology to improve the efficiency of Bitcoin mining operations and other applications. The existing grid provides electricity from power plants to users. Microgrids combine traditional power grids with solar, wind, fuel cells, and other green technologies to balance the load demand among various sources to ensure that the price of clean energy is reasonable.
CleanSpark.com

CleanSpark uses microgrid technology to improve the efficiency of Bitcoin mining operations and other applications.

The existing grid provides electricity from power plants to users. For most users, connecting to the grid is as simple as plugging a plug into a wall outlet.

Microgrids combine traditional power grids with solar, wind, fuel cells, and other green technologies to balance the load demand among various sources to ensure that the price of clean energy is reasonable.

Microgrids may be a tailor-made solution for increasing attention to the sources of energy used in Bitcoin mining. The configuration of the system and the software required to run it can be designed to meet specific needs, including future growth.

CleanSpark is also a Bitcoin miner and has recently invested in new energy-saving equipment to increase its hash rate and reduce electricity consumption.

The company is publicly traded, but so far only two analysts are responsible. CleanSpark’s stock recently reached $16.51 per share. The consensus price target or fair value is estimated to be US$47.50.

Competitors include Tata Power Solar, Longi, Acme Climate Solution and d.light design.

A report by Navigant Research, a company in Boulder, Colorado, stated that the modular microgrid market is expected to grow at a compound annual growth rate of 28% between 2020 and 2029.

Peter Asmus, head of research at Navigant, said in a report: “Although modular microgrids account for only a small portion of the market in terms of peak capacity, modular microgrids may constitute most of the systems deployed in the next decade. “By commercializing standard microgrid products that can be pieced together, the adoption of a modular approach is expected to help radically expand microgrid deployment, thereby reducing design and deployment costs.”

The cryptocurrency climate agreement based on the Paris Climate Agreement is a private sector initiative aimed at decarbonizing the cryptocurrency industry.

“For climate advocates, we can eliminate emissions from fast-growing sources of electricity loads,” the agreement states. “For the clean technology industry, we can attract new customer categories that have a significant need for low-carbon solutions. For the crypto industry, we can help support the widespread adoption of crypto by making the industry more sustainable.”

It is signed by major companies in the industry.

The Centre for Alternative Finance at the University of Cambridge estimates that 39% of the energy used by crypto miners is powered by renewable resources, mainly hydropower.

In related matters, the U.S. Department of Commerce has Ban six Chinese solar energy industry raw material and module manufacturers Among allegations of human rights violations by minorities.

This move may boost the US solar industry.

Solar Energy Industry Association Logo
According to data from the Solar Energy Industry Association, the US solar industry has grown at an average annual rate of 42% over the past ten years, and currently has approximately 230,000 employees in approximately 10,000 companies in all 50 states.
seia.org

According to the Solar Energy Industry Association, a Washington-based trade organization, the industry has grown at an average annual rate of 42% over the past decade and currently has approximately 230,000 employees in approximately 10,000 companies in all 50 states.

The industry organization stated that the industry has the capacity to provide 100 GW of electricity, enough to supply 18.6 million households.

In Friday’s midday trading, Bitcoin changed hands at $33,341.32. It fell 2.91% in the past 24 hours, but rose 15.08% for the whole year. The 24-hour interval is from US$33,011.86 to US$35,200.90, and the highest price in history is US$64,829.14. According to CoinDesk, the current market value is $624.99 billion.

Market pulse

The warning signs of the real estate market seem obvious:

-The US Department of Commerce stated that new home sales fell by 5.9% year-on-year.
– Housing prices hit a record high.
– The National Association of Realtors stated that sales of existing homes have fallen for four consecutive months.
– Consumer confidence has fallen.
– Inflation is rising.
– With the surge in demand, commodity prices have risen, pushing up the cost of new homes.

As the economy recovers from the COVID-19 lockdown, the real estate market is a key factor in the recovery. The pessimistic indicator raises a basic question: Is the real estate boom over?

Lisa Shalett, Chief Investment Officer of Morgan Stanley Wealth Management, said no.

She said in a research report by the New York Investment Bank: “We believe that supply disruptions and rapid price increases are just suspending buyers’ confidence and buying behavior, because housing should be above average.” “In our view, the United States The real estate market has a solid foundation, arguably the best in decades.”

Shalett said that many households have strong balance sheets, and millennials have entered the golden age of starting a family. Research by Morgan Stanley estimates that 1.2 million new ownership households were added last year.

The analyst said: “Anecdotal evidence suggests that the pandemic may have shifted its focus to de-urbanization and remote work, thereby creating sustainable support for housing needs.”

The construction of new homes has been lagging for about 10 years, partly because the collapse of the subprime mortgage market triggered the recession from 2007 to 2009, the worst recession since the Great Depression of the 1930s.

Shalett said that the current housing supply growth lags behind the annual family formation rate by nearly 60%, and this imbalance may support the price of single-family homes.

During the coronavirus pandemic, lending standards were tightened, but they have now been relaxed.

“This may help offset higher house prices and mortgage interest rates,” she said. “As the Federal Reserve last week expressed its appreciation to all major U.S. banks undergoing annual stress tests, homebuyers can expect more credit supply.”

The US Central Bank, the Federal Reserve, reviewed 23 large banks and concluded that each bank has strong capital reserves and can continue to provide loans to households and businesses during a severe recession.

“In the past year, the Federal Reserve has conducted three stress tests on several different hypothetical recessions, all of which confirm the banking system’s ability to support a sustained recovery,” said Randall K. Quarles, vice chairman of supervision. Said in a report. Press Releases.

The Fed’s stress test assesses the resilience of banks by estimating losses, income and capital levels (a buffer against possible losses) for the next nine quarters, and “what-if scenarios”. The National Association of Realtors, a Washington-based trade organization, reported that existing home sales fell in all regions except the Midwest in May.

The median price of various existing homes in May was US$350,300, a year-on-year increase of 23.6%. The total housing inventory in May was 1.23 million units, an increase of 7% from April, but a decrease of 20.6% from a year ago.

NAR Chief Economist Lawrence Yun (Lawrence Yun) said in a report: “Housing sales fell moderately in May and are now approaching pre-pandemic activity.” “Insufficient inventory is still an overwhelming factor hindering home sales. But the decline in affordability has only squeezed some first-time home buyers out of the market.

However, the prospects are encouraging.

“Supply is expected to improve,” he said. “This will provide buyers with more options and help reduce the record asking prices of existing homes.”

The National Mortgage Bankers Association, a trade organization based in Washington, said that in the week ending June 25, loan applications fell 6.9% from the previous week, to the lowest level in about 18 months.

The average interest rate for 30-year fixed-rate mortgages supported by the Federal Housing Administration fell from 3.21% to 3.19%.

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