Alternative energy for cryptocurrency mining

By Moris Beracha.- 

Cryptocurrency mining is a process that exceeds electricity consumption. This is known by bitcoin mining companies and the authorities of the different countries of the world and therefore they have set to work, in order to drastically reduce the amount of energy to be used.

An example of this reality includes Soluna, a Bitcoin-mining company, which plans to start the construction of a 36 megawatt wind farm in Morocco in January 2019.

According to a company statement, southern Morocco enjoys the ideal conditions to produce wind energy, which will help relieve the country’s electricity system and deem cryptocurrency mining much more comfortable.

Soluna acquired the rights to a 37,000 acres of land, with over 900 MW of wind power potential available for development, so it does not rule out the storage of the remaining energy in devices as soon as wheather conditions are not fully effective.

Likewise, the Brookstone Partners company is looking to enter the project and is currently raising 100 million dollars that will be invested in the Moroccan desert.

Noteworthy, Soluna is not the first company to do business with wind energy for cryptocurrency mining. In Latin America the Uruguayan consortium Ventus is also undertaking a project to install a renewable energy park for mining.

Francis Raquet, representative of the aforementioned company said that Uruguayan engineers have already installed the first mining machines in the country and have realized that the energy consumption is quite significant, so they have requested Ventus to develop a renewable energy project.

Likewise, CryptoSolarTech has presented its pioneering project to build the largest cryptocurrency mining farm with renewable energies in Spain, consisting of a block that will extract cryptocurrencies and a photovoltaic plant that will supply the large volume of energy required by these devices.

Specifically, 3,000 servers will be installed in the farm in the province of Malaga, in a warehouse already enabled to operate these devices at full capacity.

Meanwhile, the solar power plant will be located in the province of Seville, aiming at “taking advantage of the good weather and sunny hours in Andalusia”.

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