Blockchain Dramatically Transforming Operations for New Age Data Centers

PLAM BEACH, Florida, August 15, 2018 /PRNewswire/ --

MarketNewsUpdates.com News Commentary 

Whilst blockchain technology emerges as today's revolutionary technology, it is quickly transforming a growing number industries while the cost-effective data processing is now allowing data center developers to run more efficiently resulting in a higher level of energy consumption management. Operations have exploded across the Globe and is presenting local companies with an amazing opportunity to step up and start taking part in creating mega facilities disrupting data center infrastructure, especially in the avenue of Cryptocurrency. A growing number of investment firms are investing millions into the development and deployment of Blockchain technology to boost local data centers efficiency, as well as enhance mining operations. From its initial use as the technological architecture underlying cryptocurrencies like Bitcoin, Blockchain has grown in popularity to the point that now an ever-increasing number of data centers and industries are harnessing the innovation for more capable operations. Active companies in the markets this week include Epazz, Inc. (OTC:EPAZ), MGT Capital Investments, Inc. (OTC:MGTI), Overstock.com (NASDAQ:OSTK), Riot Blockchain, Inc. (NASDAQ:RIOT), SinglePoint Inc. (OTC:SING).

Epazz, Inc. (OTCPK:EPAZ) BREAKING NEWS: Epazz, a leading provider of blockchain cryptocurrency mobile apps and cloud-based business software solutions, announced that the company filed a provisional patent for blockchain energy consumption management technology for use in Bitcoin data centers. The company will use its EnergyVIEW solution in wastewater treatment facilities to save on the energy consumption in data centers used to mine Bitcoin. EnergyVIEW is an important automation component of integrated plant management and control systems.

EnergyVIEW provides real-time energy consumption data for plant managers. This same technology can be use for data centers that mine bitcoin and other complex computing activities, such as high frequency trading. Data centers demand an increasing use of energy, similar to water and wastewater facilities. EnergyVIEW technology can provide a way to decrease the energy cost for data centers.

According to Forbes, "Bitcoin's current estimated annual electricity consumption is 61.4 TWh, which is also equivalent to 1.5% of the electricity consumed in the United States." Additionally, Joule's new study estimates that mining for Bitcoin consumes at least 2.6 GW of power, equivalent to what Ireland consumes in electricity yearly. This figure could rise to 7.7 GW in early 2019, which would account for close to half a percent of the world's electricity consumption. According to the Crescent Electric Supply Company, the estimated electricity can "cost between $3,224 to $9,000 to mine a single Bitcoin."