Date: 5 months ago   Category: Economy

Soluna is going to compensate the electric power


The quantity of the electric power used for a mining causes concern from the point of view of ecological consequences. According to the current estimates, consumption of energy for production of Bitcoin makes about 2,55 gigawatts, almost as much how many all Ireland consumes. And this problem is only aggravated with growth of number of operations.

Quantity of the electric power used for a mining causes concern from the point of view of ecological consequences. According to the current estimates, consumption of energy for production of Bitcoin makes about 2,55 gigawatts, almost as much how many all Ireland consumes. And this problem is only aggravated with growth of number of operations.

Nevertheless, the Soluna company seeks to compensate ecological consequences of production of Bitcoin at the expense of the wind power plant which will be placed on 37 000 acres in Morocco and will be able to develop power to 900 megawatts that will provide to the company a cheap renewable source of energy for production of Bitcoin. The company intends to finish construction by 2020.

the Soluna Company is sure that Bitcoin have a future, however at the moment it is possible to earn from a mining only having reduced the cost of the consumed electric power.

John Belizar, the CEO of the Soluna company, considers that "vertically integrated" the model of a mining will become less carbon intensive way of maintenance of operations. Besides, he hopes that the Soluna company will be able to finance other projects connected with renewable energy at the expense of income from kriptovalyutny operations.

the Mayningovy companies are usually concentrated in places with cheaper electric power. Maynera in some regions of China about 0,03 dollars for kWh can get the electric power. As comparison, the average price in the USA is 0,13 US dollars for kWh. Nevertheless, often mayner are forbidden to carry out such activity in places with the cheap electric power, for example, in Iceland or on border of the USA and Canada.

If the project of the company is successful, it will help to reduce Bitcoin-mayninga cost. However it is necessary to understand that though Soluna uses renewables for a mining, it doesn't reduce a carbon trace from Bitcoin-mayninga in general. It can potentially provide an acceptable alternative to the got types of fuel with low cost. To reduce influence of cryptoproduction on the environment, the Soluna company should convince others that wind energy is the future of Bitcoin-production.

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