UNICEF Australia Raising Money for Children with Crypto Mining

Australia has become an strong leader in the adoption on cryptocurrencies. From start ups such as PowerLedger, Blockgrain and the acceptance on cryptocurrencies as payment in major airports.

Now UNICEF Australia has announced the option for people to Mine Crypto as a form of donation. The initiative allows users to give their computers processing power to allow UNICEF to mine crypto.

Currently donations are tax deductible in Australia. Our first thought at CryptoCrunch was perhaps we can claim out computers or mining rigs on tax. It would be a great financial incentive and would also be rewarding.

The digital brand and content manager of UNICEF Tony Tang told ITnews;

“we are transparent in the fact we are borrowing a computers’ processing power, and provide the ability to choose how much power is donated”

ITnews further reported that the UNICEF site appears to be running Authmined which is a mining software which allows users to mine the alt coin Monero.

This is not the first time that UNICEF has called on the masses to donate computing power. Earlier this year they ran a two month long charity campaign which allowed users to donate computing power to mine Ethereum. After two months, a total of 11,000 people contributing raising a total of $1,600 for Syrian refugees.

According to the ‘How To’ section, users lend more power the longer they stay on the page. They also stated that if users are worried about power consumption, they can turn down the amount of processing power they donate.

Cryptocurrency News

Users however, should be aware they these types of mining operations will generate higher electricity bills, slower internet and reduce the lifespan on a users computer. However as mentioned in the beginning of this article, there would be certain tax benefits to lending equipment to charity.

Comments (No)

Leave a Reply