North Vancouver will be the world’s first city to be heated by Bitcoin

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Lonsdale Energy Corporation Contracts MintGreen with Bitcoin Clean Tech Mining Company MintGreen to Provide Innovative Low Carbon Heating Solution

Posted: Oct 14, 2021 at 11:00 AM CDT | Updated: 33 minutes ago

VANCOUVER, BC, Oct. 14, 2021 / PRNewswire / –The city of North Vancouver, British Columbia, is powered by a hydronic district energy system that provides heat to 100 residential and commercial buildings. Lonsdale Energy Corporation (LEC), the award-winning neighborhood energy utility wholly owned by the city, is on a decarbonization journey to implement more renewable and clean energy, shifting from the use of conventional natural gas . The buildings sector currently accounts for 40% of carbon emissions in urban areas, but neighborhood energy creates an opportunity to reduce the urban carbon footprint through the integration of new innovative technologies.

In 2022, the City and LEC will introduce a new source of heat into their district energy system: bitcoin mining. During the term of the commitment, MintGreen’s digital boilers will prevent 20,000 tonnes of GHGs entering the atmosphere per MW of natural gas. The production of both bitcoin and usable thermal energy positions digital boilers as the most economical low-carbon heating technology.

MintGreen, a Canadian cleantech cryptocurrency miner, is disrupting the bitcoin mining industry. Their proprietary digital boilers recover over 96% of the electricity used for bitcoin mining as thermal energy that can be used to sustainably heat communities and fuel industrial processes. Cryptocurrency miners operate at full capacity 365 days a year, creating the unique opportunity to provide a reliable and clean heating base load for the North Vancouver district energy system. Lonsdale Energy Corporation CEO Karsten Veng commented: “Being a MintGreen partner on this project is very exciting for LEC, in that it is an innovative and cost competitive project, and that reinforces the distance traveled by LEC to support the city’s ambitious greenhouse gas reduction targets. . “

Neighborhood energy as a whole tends towards clean energy. The 2015 report “District Energy in Cities” of the United Nations Environment Program quotes: “District energy systems [are emerging] as a best practice approach to providing local, affordable and low carbon energy supply. Neighborhood energy represents an important opportunity for cities to move towards climate-resilient, resource-efficient and low-carbon pathways. Cities around the world are tightening carbon regulations and increasing carbon taxes. 80% from 2007 levels by 2040. In addition, Canada has proposed a carbon tax of $ 170 per tonne effective in 2029, which will increase the recurrent cost of conventional natural gas.

“The complex problem of climate change requires innovative solutions, and LEC, along with the City of North Vancouver, is demonstrating tremendous leadership in environmental stewardship,” said MintGreen CEO Colin Sullivan. Over 97% of BC Hydro’s energy mix is ​​hydroelectric. Using that energy twice eliminates waste and makes this project one of the greenest in space. Veng believes the MintGreen Digital Boiler pilot project could be the springboard for future expansion opportunities as the city of North Vancouver continues to grow.

Press contactJennifer [email protected] | 778-892-3188

About Lonsdale Energy Corporation The Lonsdale Energy Corporation (LEC) is an award-winning neighborhood energy system. LEC has been providing reliable, clean and competitively priced energy to residential and commercial buildings in the Lonsdale area since 2003. By naturally heating our community, we can dramatically reduce energy demand and support global and local climate action efforts. .

About MintGreenMintGreen is a Canadian clean technology company that recovers heat from Bitcoin mining to produce low-carbon salable heat for communities and industrial processes. MintGreen’s exclusive digital boilers are the most economical low carbon heating technology. By signing levy agreements, MintGreen subsidizes its electricity costs, extracts Bitcoin sustainably, and reduces GHG emissions for cities and communities.

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