Cryptosolartech, Spain’s largest Bitcoin miner, is leading the charge for sustainable crypto mining, with the construction of a 300 MW solar farm.
The solar farm will be made possible by a partnership with Risen Energy, a Chinese company that makes photovoltaic solar panels. Risen Energy is a large international energy company that focuses specifically on solar. Although they are based in China, Risen Energy is currently operating in over 30 countries.
Cryptosolartech issued a statement this week, where the team explained how their plan will work. The statement read:
The first phase will be built in the province of Seville, where 3 photovoltaic plants with a total capacity of 45 MW will be installed that will supply electricity to the cryptocurrency farms with a capacity of 5 MW and 9 MW respectively. These farms, currently under construction, will be located in the city of Malaga (Spain).
Two of the Cryptosolartech energy plants are already built and fully operational, with three others in construction. The company explained:
By providing customised low cost hosting options specifically engineered for cryptocurrency and Bitcoin mining at globally competitive rates, DC Two & D Coin have been able to attract the interest of both the local and international crypto mining community.
Reducing Energy Consumption
The large amount of energy that cryptocurrency “proof of work” mining requires is a common reservation expressed by many critics of the industry.
However, Cryptosolartech and many other teams in the blockchain space are making efforts to lower the industry’s carbon footprint. In July, Bitcoinist reported that one firm was building a giant 900-megawatt wind farm in Africa for clean Bitcoin mining. These are just the most high-profile miners, but smaller miners are also incentivized to use cleaner energy because it is cheaper for them in the long run.
Additionally, it is important to note that proponents of cryptocurrency insist that the technology consumes much less energy than the traditional banking and credit card companies. It has even been calculated that Bitcoin mining uses less electricity annually than seasonal Christmas lights .
Last month, the grand opening of the largest bitcoin farm in the world, operated by Bitfury and Hut8, was overshadowed by a statement from the city that they would be temporarily shut down in the event that a heat wave overloaded capacity.