2. 05. 2023 | Kristýna Bezděková

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Bitcoin mining needs massive quantities of power. Blockware Solution, in collaboration with SEVA, will build a massive solar-powered mining farm in abandoned West Virginia coal mines.

Bitcoin mining firms may be found all over the world. The basic issue is the enormous amount of energy they consume, which is why some firms are attempting to address the environmental effect of such mining; fact, global consumption for Bitcoin mining is expected to be more than 120 TWh per year, nearly equivalent to Sweden or Norway.

Blockware Solution (BWS), for example, has teamed with SEVA, which is constructing a vast 3,000-acre (about 12 km2) SunPark in West Virginia that will feature not just solar power plants but also facilities for other educational and tourism activities. BWS will use solar energy generated in this location to power its mining farm, among other things. A total of ten million euros will be invested in the first phase. USD 10 million will be spent on a 20-acre (8 ha) property for a 60MW immersion cooling technology. This should be ready before the end of the year. Dozens more jobs are likely to be created, with technicians earning US$23 per hour, according to BWS. This means that this farm will consume as much energy in an hour as nearly 50 electric cars will in a whole year. The yearly usage would then charge almost 400,000 such vehicles.

According to the Columbia Climate School, Bitcoin mining consumes 121.36 terawatt hours of energy per year, which is more than certain countries and more than Google and Apple combined.

According to Cambridge University’s 3rd Global Cryptoasset Benchmarking Study, just 39% of Bitcoin mining facilities use sustainable energy. The energy necessary to confirm blockchain transactions generates carbon emissions, which harm the environment. However, BWS’s Bitcoin mining activities are largely fueled by solar energy, which is environmentally friendly.

“The way Blockware sees it, we’re responsible users of grid energy,” Warren Rogers, CFO of Blockware Solutions, told ZDNet. “One of the advantages of being in West Virginia is that we draw from the PJM grid, which is frequently overproduced but very stable.” When you look at the PJM grid, you can see that it includes a lot of renewable components… therefore it’s on its way to being a renewable standard.”

Source, photo: zdnet.com, pixabay.com

Kristýna Bezděková

Kristýna is a student of marketing and communication in an undergraduate program. She writes and translates content into the Czech language