Crypto

Australian solar-powered crypto farm proves bitcoin mining can be green

According to local media reports, the data center for cryptocurrency mining in the state of South Australia will be powered mainly by solar energy. The mint was established in an area known for its energy-intensive iron ore mining and steel production.

Bitcoin farm is going to mine cryptocurrencies using solar energy and excess energy in South Australia.

A new cryptocurrency mining facility has opened in Whyalla, South Australia, a steel city that will run on electricity generated by solar energy. Operated by Lumos Digital Mining, the 5 megawatt facility will mine bitcoin, a process often blamed for being energy intensive.

Australian national broadcaster ABC notes in an article that at a time when the world is trying to reduce energy consumption, bitcoin mining requires more energy than mid-sized countries like Argentina. This echoes criticisms often made by the media around the world.

Local authorities are looking at the solar-powered cryptocurrency mining project as evidence that bitcoin production can be greener. Commenting on the company, Nick Champion, South Australian Minister for Trade and Investment, said:

It is important to decarbonize the blockchain, which is a very energy intensive industry. I think this is the start of a new economy here in Whyalla.

The government spokesman also hopes that other data centers will mine cryptocurrencies using renewable energy sources in the future. “There will be demand for blockchain and also for carbon neutral blockchain, so I think we will see more and more of these installations,” he predicts.

His statement comes after a recent report from the White House Office of Science and Technology Policy, which found that the production of cryptocurrencies in the United States alone accounts for up to 0.3% of global gas emissions. Greenhouse effect.

According to a spokesperson for Lumos Digital Mining, the new cryptocurrency farm could potentially mint around 100 BTC per year, depending on the capacity available. Angelo Kondilas said the company could also sell some of its solar energy to other consumers, or increase its production of cryptocurrencies to use excess energy from different sources when electricity production exceeds demand.

Angelo Kondilas pointed out that electricity generators can suffer large losses when they are turned off during periods of low demand. “We are basically like a sponge. We absorb the surplus that is not being used,” he explained. The operator intends to eventually double the size of the mining object.

Bitcoin mining using renewable and surplus energy is gaining momentum around the world due to the growing interest of investors in solar energy coin mining projects in the United States and the increase in the capacity of cryptocurrency farms powered by associated petroleum gas (APG) in oil fields. Russia.

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker.