As anyone in the Bitcoin industry will know, when it comes to mining bitcoin, or any type of cryptocurrency for that matter, the electricity cost for running such operations is extremely high. So high in fact that it is starting to cause some serious problems for local communities and other environmental groups.
Since its release, Bitcoin has been causing issues in the energy sector, with Digiconomist reporting that Bitcoin mining uses around 71 terawatt hours a year, which is the equivalent of around 10% of China’s annual energy use.
The company Soluna, who is a computing company that currently uses renewable energy to power its systems, has come up with a possible solution to this problem. They propose to offset the carbon footprint of Bitcoin mining by setting up and building a wind-powered blockchain infrastructure somewhere in the Sahara Desert.
The company are planning to establish a 900MW wind farm in the deserts of Morocco, with the aim of powering blockchain in a much more sustainable way than the methods that are currently being used. This project is set to be completed in the next 5 years, with the first 36 megawatts of capacity being available as early as 2020. To start with, this would be an off-grid operation, but the hope would be that it would integrate with the grid at some point next year.
This will be an extremely expensive project for the company to undertake, and so they are relying heavily on the likelihood that people will continue to mine Bitcoin into the foreseeable future. The profitability of the build will hinge on the energy cost that is used for the operation.
The number of networks and technologies that are moving onto the blockchain is growing every day, so there is no better time for this project to commence.