Cryptocurrencies, low-cost mining in Iceland

Iceland is an ideal place for cryptocurrency mining operation, as Sean Williams and Peter Ward report on Wired. Cold Arctic air provides natural cooling for mining equipment vital for the operation of data mining centers. A small mining company went further and found a system to reduce the environmental and economic impact as much as possible.
The firm pays local farmers to receive their excess of geothermal energy, which then it converts into electricity for its plants. At the same time, it uses the heat produced by the equipment for other activities.