Cities Continue To Tap Into Renewable Energy Sources For Cryptocurrency Mining
The advantages and benefits of using renewable energy has been a widely discussed topic for quite some time. However, renewable energy consideration in the context of cryptocurrency mining is being explored more than ever before.
Many cryptocurrency mining facilities rely on traditional energy sources for power. Not only does mining require a great deal of energy, but tremendous amounts of energy are also used to cool these centers — AC cooling costs make up 50% of total energy costs of regular mining centers.
Bitcoin.com recently highlighted in a story that the government of Kazuno, Japan, a city that is notable for its renewable energy and low temperature in the winter, is trying to attract cryptocurrency miners to take advantage of its clean and renewable electricity. In fact, Tokyo-based Miner Garage Co., Ltd. a digital currency mining company, has already announced that it will open ‘the first clean energy-based Japanese mining center’ in the city to mine 10 cryptocurrencies including bitcoin next month.” Miner Garage is also in negotiations with Tohoku Electric Power Co. Inc. “regarding renewable energy procurement.” There are currently about 32,000 inhabitants in the city.
Japan Today also reported earlier this month that “the average yearly temperature of Kazuno City is low, probably contributing to improving the heat exhausting/cooling effects to deal with the heat generated by computers for mining. The government of Kazuno City has been inviting companies that run businesses by using renewable, energy-derived clean electricity. The city has an abundance of renewable energy including geothermal, hydroelectric and wind powers, and its self-sufficiency rate of electricity exceeds 300%”. Renewable energy providers Looop and Remixpoint are also among those offering low-cost energy solutions to miners.
All of this is a step in the right direction — turning to renewable and clean energy is an ideal solution to reduce mining costs associated with electricity. Mining depends on easy and scalable access to low-cost electricity –this is a bottleneck in a market that is growing from $2 to $20bn over the next five years. However, renewable energy still presents its own set of problems.
Because costs associated with renewable energy have plummeted, it has become more and more attractive for solar plants to expand and invest into additional revenue streams that ensure a more stable output at periods of low solar irradiance. However, this results in massive and unprecedented local overcapacities. Extensive expansion of solar parks results in massive overcapacities worldwide, making solar energy cheaper than ever, but only at the source.
Envion has discovered a revolutionary solution to this problem. The discovery is decentralized self-expanding crypto infrastructure that is hosted in mobile, modular CSC containers.
This smart global network of satellite-connected modular crypto-mining units transform energy into crypto assets right at the source. These mobile mining units are readily deployable right into parks to “convert” these overcapacities into real value. Envion’s mobile mining units access low-priced electricity at its source. Even the smallest overcapacity at a decentral transformer station (>50 KW) can be efficiently used by the units.
This is how Envion will make the most out of unused renewable and other energy sources. Read more about Envion on our website.
