Helios Solar Mining Clusters as an idea of global goods

For all its advantages, cryptocurrencies such as bitcoin and ether have a significant drawback – mining is inextricably associated with large energy costs. The basis of cryptocurrencies are large power of computer equipment. It performs cryptographic hashing algorithms around the clock. These computers can be integrated into large mining farms in rural China, and may be small home installations, but they are all equally energy-intensive. The Ethereum platform, for example, already uses more energy than the island of Cyprus, where about 1.2 million people live. In turn, the network of mining farms, which are entirely dedicated to bitcoin mining, with projected growth rates by 2020, will consume more electricity than the whole of Denmark.

Consider the economic feasibility of mining using a renewable energy source (solar radiation). Stand-alone solar panel system: requires a large number of batteries (usually lead) if you are going to mine.

Consider the option with batteries:

1 farm on video cards consumes about 1 KW / hour. But, of course, the power of solar panels in 1 KW will not be enough for us, because at night, as we know, there is no sun. We will assume that the minimum, we need 4 KW (roughly, it is accepted to take 4 times more power panels, compared to consumption, for example).

The process of cryptocurrency mining is associated with a number of additional cash costs. After all, in addition to a one-time purchase of expensive equipment, you have to regularly pay tidy sums for electricity. And what will happen if you abandon the usual electricity from the outlet and switch to solar panels, which will supply farms for mining electricity? Consider.

First, in order to start mining with solar energy, it is necessary to live where the sun is full all year round, or wait until the sale of new batteries that can produce electricity with the same efficiency around the clock.

And it’s not only about green energy usage.

In our company we want to help poor people around the globe. That why in a collaboration with our investors we want to establish charity fund, and every 3–6 months we will produce 1–2 clusters and all together we will decide where to donate it.

Conclusion

Solar energy for mining is definitely an innovative solution and Helios Solar mining clusters is a good idea of global goods for all people around the globe.