It’s the method they have adopted to mine the digital assets that is grabbing headlines, which uses a simple source of energy that the world has in abundance — “cow muck”.
It requires an insane amount of electricity and causes irreparable damage to the environment, a fact about which Tesla and SpaceX CEO Elon Musk, too, had expressed concerns while announcing that Tesla would no longer accept Bitcoins as payment.
The Bury UK-based family hopes to change this situation through its renewable energy business that converts cow manure into energy for running computers that mine cryptocurrencies 24/7.
In 2020, Riddett attended the European Union summit on crypto as a delegate.
Farmers who have renewable energy sources such as solar, hydro, wind, or anaerobic digestion can sell their power to the National Grid for around 4-7 pence per kWhr.
“When we started this business four years ago, green energy wasn’t on our customers’ radar, but now it’s approximately 40 percent of our business, and growing every day.
“Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment,” he had tweeted.
For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News.