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

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

A media report has revealed that a cryptocurrency mining data center in the state of South Australia will primarily run on electricity generated from solar energy. The mint facility was set up in an area known for its energy-hungry iron ore mining and steel production.

Bitcoin Farm to mine cryptocurrency on solar and redundant power in South Australia

“City of Steel” Why In South Australia it is home to a new crypto-mining facility that runs on electricity generated by solar energy. The 5-megawatt facility, operated by Lumos Digital Mining, will mint bitcoin, a process often blamed for its energy-intensive nature.

Australian national broadcaster ABC noted in a report that while the world is trying to reduce energy consumption, mining the leading cryptocurrency through market capitalization is using more power than medium-sized countries like Argentina. It echoes criticism often highlighted by the media around the world.

Local authorities see a solar-powered crypto-mining project as proof that bitcoin generation can be more environmentally friendly. Commenting on this pledge, the South Australian Minister of State for Trade and Investment, Nick Champion, explained:

This is important to decarbonize blockchain, which is an energy-intensive industry. I think it’s the start of a new economy here at Whyalla.

The government official also hopes to see other data centers mining cryptocurrency using renewable energy in the future. He predicts “there will be demand for blockchain, but also carbon-neutral blockchain so I think we will see more and more facilities like this.”

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

According to a representative of Lumos Digital Mining, the new crypto farm can mint around 100 BTC per year, depending on available energy. Angelo Condelas said the company could also sell some of its solar energy to other consumers or ramp up crypto production to take advantage of surplus energy from various sources when electricity generation exceeds demand.

Condelas noted that power generators can incur heavy losses when they are turned off during times of low consumption. “We are basically like a sponge. We are absorbing the surplus that has not been used. The operator eventually intends to double the size of the mining facility,” he explained.

Bitcoin mining on renewable and surplus energy is gaining momentum around the world, with growing investor interest in solar-powered mint projects in the United States and an increase in the capacity of crypto farms powered by associated petroleum (APG) in Russian oil fields.

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australia, australia, bitcoin, bitcoin mining, carbon, crypto, crypto farm, crypto mining, cryptocurrency, cryptocurrency, data center, electricity, emissions, energy, mining facility, mining farm, energy, renewable energy, solar energy, south australia , Whyalla

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

Lubomir Tasev

Lubomir Tasev is an Eastern European technologist who likes to quote Hitchens: “Being a writer is what I am, not what I do.” Besides crypto, blockchain, and fintech, international politics and economics are other sources of inspiration.

photo credits: Shutterstock, Pixabay, Wikicommons

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