Private Equity Moris Beracha Wuani

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 Partne...

By Moris Beracha The entire network for bitcoin mining requires to be running constantly, leading to a large consumption of resources. The Joule magazine cited a research estimating that by the end of 2018, the mining of cryptocurrencies will account for 0.5% of the total world electricity production, which would be equivalent to the electricity consumption of a country the size of the Netherlands. Also, this research suggests that this figure could increase significantly up to 1.8%, which is equivalent to all solar panel energy production at present. Currently, the specialized devices needed to create cryptocurrency consume electricity and in high quantities constantly.   See more at: MorisBeracha.com