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Solar-Powered Crypto Farm in Australia to Prove Bitcoin Mining Can Be Green

Solar-Powered Crypto Farm in Australia to Prove Bitcoin Mining Can Be Green

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The cryptomining data center in the state of South Australia will run mainly on electricity generated by solar energy, according to a media report. The coin mint has been established in an area known for energy-hungry iron ore mining and steel production.

Bitcoin Farm mines cryptocurrency from solar and surplus energy in South Australia

The “steel town” of Whyalla in South Australia has become home to a new cryptomining facility powered by solar-generated electricity. The 5-megawatt facility, operated by Lumos Digital Mining, mints bitcoins, a process often blamed for its energy-intensive nature.

Australia’s national broadcaster ABC states in a report that at a time when the world is trying to reduce energy consumption, the recovery of the leading cryptocurrency by market value consumes more power than medium-sized countries such as Argentina. It echoes criticisms often highlighted by mass media around the world.

Local authorities see a solar-powered cryptomining project as proof that bitcoin production can be more environmentally friendly. South Australia’s Minister for Trade and Investment, Nick Champion, commented on the commitment:

This is important for decarbonizing the blockchain, which is a very energy-intensive industry. I think it’s the start of a new economy here in Whyalla.

The government official also hopes that other data centers will mine cryptocurrency with renewable energy in the future. “There will be demand for blockchain, but also for carbon-neutral blockchain, so I think we’ll see more and more spaces like this,” he expects.

His statement came after a recent report by the White House Office of Science and Technology Policy estimated that cryptocurrency production in the United States alone represents up to 0.3 percent of global greenhouse gas emissions.

According to a representative of Lumos Digital Mining, the new crypto space can hit around 100 BTC per year, depending on the available power. Angelo Kondylas said the company could also sell some of its solar power to other consumers or increase crypto generation to utilize surplus energy from various sources when power production exceeds demand.

Kondylas pointed out that generators can suffer large losses when they shut down during periods of low consumption. “We are basically like a sponge. We absorb the excess that is unused,” he explained. The operator plans to eventually double the size of the mine farm.

Bitcoin mining using renewable and surplus energy has gained traction around the world as investor interest in solar-based coin minting projects in the US has grown and the capacity of cryptocurrency farms operating in Russian oil fields has increased with associated petroleum gas (APG).

Do you expect to see more renewable energy cryptocurrency farms? Share your thoughts on the topic in the comments section below.

Source: Bitcoin.com



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