New York: Two US tech companies, Block and Blockstream, will launch a fully solar-powered Bitcoin maker in June as a new initiative to make cryptocurrencies cheaper and more environmentally friendly. I am preparing to launch it.
Blockstream, a digital payments group formerly known as Square, and blockstream specialist Blockstream have each invested $ 6 million in pilot projects and should initially produce about 0.1 Bitcoin per day. Adam Back, CEO of Blockstream, told AFP.
Blockstream announced that the center is located in western Texas and will be equipped with Tesla’s solar panels and batteries.
“Many people talked about theory, and I wanted to give it a try and get real data that people could see, cite, and cite,” Back said.
“The goal is to prove that’mining’helps to finance renewable energy infrastructure,” he said, rather than just creating Bitcoin.
According to Buck, the logic is that Bitcoin production centers can only use surplus capacity from facilities that generate renewable energy, and most of the electricity is used for normal household and corporate consumption.
Bitcoin mining requires a series of complex computer calculations, and the amount of power required continues to grow.
According to Buck, the two project partners are already considering increasing the size of the project up to 100 times on the same site if the tests give definitive results.
This is not the first cryptocurrency project to rely entirely on renewable energy.
In El Salvador, where Bitcoin is now the official currency, energy from surrounding volcanoes is used to mine at geothermal power plants.
The crypto sector, which has been criticized for its huge consumption of electricity, has recently spawned several initiatives to achieve a more ecological model.
Last year, dozens of companies united under the umbrella of Crypto Climate Accord, promising to achieve carbon neutrality by 2030.