Mining Bitcoin is one of the most expensive jobs ever, the amount of money you spend on electricity is exhastive to an extent that you cannot earn profit out of it, but what if the source of energy is renewable. The reason why Iceland is the Bitcoin mining hub is the Renewable Geothermal Energy and the supporting climate perfect for maintaining the hardware.
The revolution of Crypto asks for innovations which can provide solutions to the existing problems, and the first step to solve a problem is accepting that there is one.
Cryptosolartech, a Spanish Cryptocurrency mining firm uses renewable source of energy for its operations, has signed the contract with a Chinese marker of photovoltaic solar panels to put up a solar farm with a production capacity of 300MW.
Risen Energy Spain, The Spanish subsidiary of Chinese firm Risen Energy, is partnering with Cryptosolartech to build solar farm in the Southern European country with the view of electricity produced from the solar plant specifically for mining of cryptocurrencies.
According to the statement released by Cryptoscratch, the development of the solar farm will be conducted in phases. The first phase of the project involve putting up three photovoltaic plants with combined capacity of 45MW in Spain’s Seville province. The energy produced here will be directed to Cryptocurrency mining farms which are currently in Malaga city.
“With this, we can finally give way to the start-up and installation of the photovoltaic plants with a capacity of 300MW, thus providing clean energy to the largest cryptocurrency mining farm in Spain, our farm,”
wrote Cryptosolartech in a statement.
Solar Plants Up and Running
As a matter of fact, two plants are already funtional, additional three plants are in construction. The solar farms have been completed are Marchena and Cantillana while those under construction are Saltera, Palomares and Alcala de Guadaira.
While Critics targeting Cryptocurrency market here and there for the reason of high consumption of resources and ediquent consumption to Global warming, Cryptosolartech is not alone who are shifting towards renewable source of energy as a solution. In Australia, for instance, D Coin, the cryptocurrency subsidiary of data center operator DC too was reported two months ago to have process of developing the crypto mining facility that uses solar energy.
Carbon Footprint Reduction
“By providing customised low cost hosting options specifically engineered for cryptocurrency and Bitcoin mining at globally competitive rates, DC Two & D Coin have been able to attract the interest of both the local and international crypto mining community,”
said the company.
Additionally, Hollywood actor William Shatner announced his involvement in an effort focused on the use of renewable energy in the mining of Cryptocurrencies. This is through Solar Alliance, A Vancouver, Canada-based firm that counts Shatner as its spokesperson. Then, the firm was reported to have abandoned warehouse in the state of Illinios with the view of renting it out to cryptocurrency miners who will use electricity generated by a 3MW solar farm.
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