From the bitcoin mining industry’s perspective, the case is clear-cut. Financially, bitcoin invites anyone to participate. Anyone can transact freely, enforce the rules with a node or even earn bitcoin by simply plugging into the network. Compare that to the incumbent financial system that has sidelined millions of Navajo since 1868. In terms of energy usage, bitcoin mining incentivizes the use of energy at the source, a key differentiator compared to past energy consumers in megacities hundreds of miles away. Moreover, bitcoin demands constant cheap energy – something the Navajo have in abundance through sunshine. The current mine is a great example, as the majority of its power is derived from renewable solar sources. In fact, it’s even incentivizing further solar build outs on the reservation by consuming a steady baseload of energy.
- Why Shouldn’t the Navajo Mine Bitcoin?
Written by Bankerage Published on November 11, 2021