The acceleration of mining in cryptocurrency
According to reports coming from Plouton Mining, it is building one of the largest Bitcoin solar mining facilities in the United States in the area of California.
The Plouton Mining facility in Los Angeles is a new startup that is striving to combine bitcoin mining farms with renewable solar energy projects.
The company plans on doing this on 50 acres of land that is currently situated in the Mojave Desert, along with co-founder Samuel (“Sammy”) Del Real and Cole Walton. He was one of the helping hands in bringing a sustainable company to the future of Bitcoin mining.
Sammy Del Real is also a musician and high performing real-estate agent. He is also a brain cancer survivor, with a great story and background.
In an interview with Sammy Del Real with BLOCKTV he mentioned that:
“We got involved in the BTC mining world by actually selling the ASIC miners. We actually had the number one store on eBay for selling ASICs S9 Antminers in 2017. After we had gotten involved in the space and gotten our hands in there, we wanted to figure out what other ways we can participate in a more meaningful way. Mining BTC naturally was it.”
He went further to elaborate on why renewable energy in the form of solar mining:
“As we all know being in the industry the electricity costs were a barrier of difficulty that everyone faces. So we started looking into land in the desert. We found the plot of land which is now ours and began the project.”
Del Real later stated the reasons for cheap forms of energy like solar over wind and hydro:
“Well , where we purchase the land in, Mojave CA, happens to be ranked in the top 12 places in the world for solar power due to its placement and overall days of sun. We need to be able to push in innovation in sustainable energy by means of BTC and allowing access to the rest of the world to participate in the bitcoin network.”
Solar Mining: Solar Energy in the future
The power of solar mining is becoming more recognized and by co-locating ASIC miners to the production of cryptocurrencies, the energy can be harvested more cheaply.
This will allow Plouton to utilize the electricity that is generated, especially ones that are lost in the grid during distribution or transit.
At the base level, the mining of cryptocurrency is to produce more hashes for the least amount of electricity usage, or most efficient use of renewable energy.
The Metcalfe’s law guides the development of efficient computer chips in order to get cheaper power for a more robust cryptocurrency network.
This is the cleanest and most effective way of obtaining energy, which is also the most cost-effective. There was an analysis back in January from a group of digital Asset managers, who had estimated that the energy used for mining bitcoin is coming from approximately 78
Many large scale operations have the possibility of entering into agreement with renewable energy providers in order to produce cheaper electricity. The mining operations get to utilize energy surpluses from providers, in order to not make this energy go to waste.