Cryptocurrency heads to the desert
Soluna Technologies is developing a 900MW wind farm in Morocco to power cryptocurrency mining operations. The US-based start-up says it is aiming to be the world’s first utility-scale blockchain infrastructure provider powered by its own private renewable energy sources.
The North African site will cover 37,000-acres with over 900MW of wind power potential. The company says that its strategy of developing renewable energy power plants dedicated to on-site, high-density computing is designed to ‘bring vertical integration to the blockchain ecosystem’.
The company adds that its mission is to power the crypto-economy with clean, low-cost renewable energy
Soluna points out to research which estimates that Bitcoin mining uses approximately 71 terawatt hours per year, equivalent to around 10% of China’s annual energy usage.
“The demand for energy to mine cryptocurrencies has set off a global scramble for inexpensive power, leading to the increased use of environmentally dirty fossil fuels, such as coal, Soluna says.
There are other initiatives to make energy-hungry cryptocurrency mining operations greener. Mining outfit HashGains is aiming to build crypto mining data centres in India and Canada using renewable energy sources, while the Moonlite Project is looking to base its first mining operation in Iceland powered solely renewable energy.