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Bitcoin "miners" are electromagnetic alchemists, effectively turning megawatt-hours of electricity into the world's fastest-growing currency. Their intensive computational activity cryptographically secures the virtual currency, approves transactions, and, in the process, creates new bitcoins for the miners, as payment. And it does another thing, too: It uses an absolutely stunning amount...
In the dusty, sunbaked land surrounding Ordos, a city in China's Inner Mongolia, sits one of the world's largest bitcoin mines. Encircled by coal-fired power plants, rare earth mineral extraction sites, and the skeletal remains of abandoned, half-constructed housing complexes, the Bitmain Technologies bitcoin mine is evidence of a new economic boom in the area. Every 10 minutes, a new block of data...
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