Crypto

Switzerland: He wants to create a mega farm to mine green bitcoins

PublishedJune 22, 2022, 9:10 pm

A young German-speaking millionaire intends to buy a huge plot of land in order to install thousands of photovoltaic panels to create cryptocurrency.

The project of Dadwan Yusuf is estimated at about 20 million francs. He intends to finance it with private funds.

Bitcoin is going through hard times. At its peak a few months ago, the cryptocurrency has since lost almost 70% of its value. Others, such as Ethereum, have also failed. A situation that, however, does not bother Dadwan Yusuf, a self-taught man who made his fortune through this market.

Aware of the environmental impact that virtual currencies have, he thinks he had a brilliant idea, which he shared on Twitter on Sunday. He plans to buy a large piece of land in Switzerland to produce bitcoins using solar energy. Because the mining of cryptocurrencies is quite energy-intensive, which causes the wrath of associations for the protection of the environment. “I have no illusions, almost every statistic shows that bitcoin mining is bad for the environment,” explains the 21-year-old. The plan is to create the largest bitcoin mining farm in Europe that will be powered entirely by renewable energy.”

Currently, some countries do not accept virtual currency at all, while others may ban mining at any time. Dadwan Yusuf is convinced that in the future, only green energy farms will be able to mine bitcoin by governments. “I expect not a ban on this cryptocurrency, but a ban on its mining, including in Switzerland.” Gearing up for this, with a 12,000-square-meter farm and power from 7,550 solar panels, he hopes to have a “huge competitive edge” when the time comes.

(dc/mst)

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