News

Could solar power will be alternative source for Bitcoin mining?

"It can make good financial sense to use solar power to mine Bitcoin. Solar plants can provide power that is cheaper than grid power in areas with good insulation and low construction costs. The price of this power is also known with some certainty because there are no fuel costs and thus no volatility." - In an article on Greentech Media.

How much cost of solar project and its supporter?

In Morocco, there’s the 800MW Noor Midelt solar complex. According to Reuters, the estimated $2.4 billion (€2 billion) project has been supported by the African Development Bank, the World Bank, the European Union and the European Investment Bank, among other institutions.

This investment in energy infrastructure could eventually help make Bitcoin mining in Africa a more sustainable endeavor which, if implemented on a large scale, might actually help push Africa’s industry forward.

Can solar energy drives in Bitcoin industry?

Not only can mining with solar energy drive, the Bitcoin industry in many African countries forward, but it will give greater parts of the population across the continent access to the global market.

Bitcoin mining is enabling many Africans to get ahead. After all, in parts of Africa there is a huge necessity for it. The power requirements to mine Bitcoin are globally unsustainable. And since access to electricity in Africa is already problematic, solar power could be the answer.

"Solar energy could help in Bitcoin industry evolution."