Bitcoin was launched in 2009 by Satoshi Nakamoto, and is both a monetary system and a unit of currency. It relies on a combination of technologies to ensure its security and resilience. Bitcoin makes it possible to transfer value over the Internet without intermediaries, quickly and at low cost.
Satoshi withdrew from the project in 2011, leaving development in the hands of volunteers. Bitcoin is based on verifiable mathematical principles, operates transparently, is open-source and is based on consensus between participants. It has revolutionised many fields, including mathematics, programming, economics, cryptography and energy. It is now one of the world's top 10 most valuable assets, with a capitalisation in excess of 2 trillion dollars.
The total number of bitcoin is limited to 21 million, which will be reached in 2140, creating scarcity in the digital world. The only way to get new bitcoin is by mining it. You need to provide computing power in order to participate in the network as a miner. Monetary issuance is carried out by miners, with new bitcoin being distributed to miners every 10 minutes on average.
At Tierra Hash we believe that bitcoin mining can be a virtuous process and that bitcoin can be an incentive to make better use of all surplus electricity.
Bitcoin can be used anywhere in the world, without the need for a banking infrastructure. It is particularly useful in regions where access to financial services is limited or where traditional monetary systems are unstable.
Bitcoin transactions can be carried out quickly, particularly for international transfers, and at a much lower cost than traditional methods such as bank transfers or card payments.
Because of its limited supply, Bitcoin is a rare asset and a store of value against the inflation of fiat currencies, whose supply is unlimited. In this sense, Bitcoin is sometimes compared to gold.
Bitcoin is not controlled by any central authority, bank or government. This allows users to retain total control over their funds, without depending on financial institutions.
Thanks to the blockchain, every transaction is recorded publicly and cannot be tampered with. Users can verify all transactions transparently and securely.
At Tierra Hash, we focus on using excess renewable energy capacity to power our latest generation of mining machines. We are eliminating the profitability problems faced by renewable energy producers while also reducing the cost to consumers in a sustainable way.
This allows us to benefit from advantageous tariffs and makes us very competitive on the international scene, by buying energy that nobody else wants. It's a virtuous circle that allows us to grow as a company, but also to promote the development of renewable energies in Argentina.