With the growing popularity of crypto currency, and in particular Bitcoin, the energy costs for their extraction are beginning to cause concern. The solution to the problem was presented by Soluna, a computer company that is going to create a computing infrastructure in the Sahara desert, working on renewable energy sources.
In recent years, with the increasing complexity of mining bitcoin, mining has become a real threat to the energy sector. According to Digiconomist, the production of crypto-currency gold uses almost 71 terawatt-hours (TWh) per year. This figure is equal to annual energy consumption by countries such as Austria or Ireland.
Based on the company’s press release, Soluna will build a wind farm in the desert, in Morocco, with a generated capacity of 900 MW. The computing power of the company will be connected to the station, which will ensure an uninterrupted and ecological mining process. The project is designed for five years, the first stage of which will be a 36 megawatt station by 2020.
According to John Belizeira, CEO of Soluna, the company is considering the growing demand for energy as a chance to gain a foothold in a fast-growing market. In addition, with increasing complexity, mining bitcoin is not always profitable. By extracting currency through renewable energy sources, the company not only takes care of the ecosystem, but also ensures high profit from mining in the future.
As the technology of blockage becomes more popular, Soluna hopes to take advantage of this trend, and to provide the industry with green or in other words renewable energy.