Bitfury, “We want to minimize our energy usage”
Interview

Bitfury, “We want to minimize our energy usage”

By Amelia Tomasicchio - 12 Nov 2018

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Cryptonomist interviewed Marc Taverner, global ambassador and market developer of Bitfury, a mining company founded in 2011, on the occasion of the Malta Blockchain Summit 2018.

Can you give more details about your IPO? Why not an ICO?

We are always looking at ways to grow our company, and the IPO route is an interesting one to explore. For now, we have no further information to share.

How the bitcoin price is important for miners? are you currently worried about the crypto market?

We cannot speak for other miners, but we expect volatility to occur in the short term but are long-term bullish on the price and value of bitcoin.

How do you think people can be able to distingue a true mining cloud from a fake one? what are your suggestions?

There is a lot of information out there on how to detect cloud mining scams, such as unregistered domain names, no proof of equipment and more. I would recommend that anyone considering getting involved in cloud mining do research ahead of time on cloud mining and what a scam looks like.

What do you think about the potential damage of the mining for climate and global warming?

It is a fact of the digital age that electricity is used in many aspects of our lives – from our smartphones to sending emails to our public transportation to bitcoin mining. Bitfury is committed to finding sustainable electricity sources and ways to minimize our energy usage as we secure the Bitcoin Blockchain. We use immersion cooling technology, which provides an energy-efficient way to cool mining servers, and we seek out sustainable energy sources to power our data centres.

You use Crystal Blockchain to track transactions and sell them to regulators. Is this not against the initial Satoshi’s vision?

Satoshi’s vision was for a decentralized, transparent peer-to-peer payment system – one that could make people’s lives easier and more efficient by eliminating the need for intermediaries.

We believe that when criminals use bitcoin to support illegal activity, they make it more difficult for all of us to use bitcoin as it was intended. Since all transactions on the Bitcoin Blockchain are public, we simply take that public information and analyze it in hopes of finding wrongdoers and preventing further criminal activity.

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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