Bitcoin mining companies are adopting renewable energy to cut costs with hash price hitting record lows below $40, impacting profitability. Sangha Renewables launched a 20MW solar-powered facility in Texas, while Phoenix Group opened a 30MW hydroelectric operation in Ethiopia. Canaan is developing energy-efficient mining rigs to tackle economic challenges in the industry.

The Bitcoin network’s mining hashrate is soaring, surpassing 1 zetahash, equivalent to 1,000 petahashes. This trend means miners must increase computing power to compete. Tether recently closed its Bitcoin mining operation in Uruguay due to escalating energy expenses. Bitcoin mining remains a costly endeavor, raising questions about its long-term sustainability.

Read more at Cointelegraph: Bitcoin Miners Turn to Renewables As Hash Price Hovers Near Record Lows