Cornell University researchers say newly developed wind & solar power projects could actually profit by using their energy for Bitcoin mining.

Cornell researchers say new wind and solar power projects could profit from Bitcoin mining

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Researchers from Cornell University say newly developed wind and solar power projects could actually profit by using their energy for Bitcoin mining. Often criticized for its negative environmental impacts, the researchers say that Bitcoin mining could be performed by these projects once they are generating power but before they are joined to the grid.

If successful, the program could generate tens of millions of dollars, which could be used for renewable energy investments or other methods designed to defray the impacts of the Bitcoin mining process.

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Source: The Debrief

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Cryptocurrency-mining facility in Whyalla, Australia, believe that they can offer a solution to the curtailment issues.

Australia’s first solar-powered cryptocurrency-mining center goes live

South Australia’s first solar-powered cryptocurrency-mining facility, which uses renewable energy sourced from a solar project, is now up and running in the town of Whyalla, on the east coast of the Eyre Peninsula.

Developed by the South Australia-based Lumos Digital Mining, the 5 MW data center will be used to mine bitcoin, which requires energy-hungry computers to solve complex maths equations for financial rewards. Lumos CEO Dong Wang said that the facility is powered by renewable energy sourced from the 5 MW Tregalana solar project, which was co-developed by Melbourne-based Climate Capital and South Australia-headquartered renewables developer Eyre Power. The cryptocurrency-mining operation uses 100% of the energy generated by the behind-the-meter Tregalana project, with any remaining power requirements to be met through the grid.

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Source: PV Magazine

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Engie launched its first crypto initiative in Africa to accelerate the use of off-grid solar solutions in sub-Saharan countries

Engie launches crypto initiative to crowdfund solar projects

In May, French energy company Engie launched its first crypto initiative in Africa to accelerate the use of off-grid solar solutions in sub-Saharan countries.

Engie partnered with the Swiss non-profit Energy Web, provider of the Energy Web Token (EWT) cryptocurrency, to create a decentralised crowdfunding platform where investors who deposit a certain amount of tokens for 12 months will receive a fixed 10% interest rate.

In only six days, the platform reached its investment target of 20,000 EWT, despite an initial pilot period set at two weeks.

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Source: African Business

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Aspen Creek Digital Corp., a new bitcoin miner, has started mining at a six-megawatts solar-powered facility in the western part of Colorado.

Solar-powered bitcoin miner starts operations despite difficult market

Despite the bear market for crypto, Aspen Creek Digital Corp., a new bitcoin miner, has started mining at a six-megawatts solar-powered facility in the western part of Colorado.

Aspen Creek was founded in January, and its mining operation is co-located at a solar farm that has a capacity of 10 megawatts. The company wants to start with mining bitcoin at its data center and eventually offer computing services to other businesses, according to a statement shared with CoinDesk.

The Colorado data center will run S19 bitcoin mining machines and be co-located with a 75,000-square-foot research-and-development center and fulfillment facility. The facility will serve as a centralized testing, maintenance, storage and training hub for Aspen Creek’s computing infrastructure.

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Source: CoinDesk

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Blockstream and Block to harness solar for bitcoin mining facility

Blockstream and Block to harness solar for bitcoin mining facility

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Block (formerly Square) and Blockstream (a long-time Bitcoin company) have agreed to co-finance a pilot project to mine bitcoin off the electric grid in an all-solar facility.

Why it matters: The energy overhead of Bitcoin has become hotly controversial, but some bitcoiners argue the technology can help finance further development of renewable energy.

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Source: AXIOS

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