Crypto mining power consumption demands have really opened a can of worms. They have skyrocketed the costs of the mining blockchain operation itself, and have put pressure on local economies and utility companies. And the problem has also provoked the anger of environmentalists, and led to cryptojacking that’s impacting on ordinary computer users.
However, a possible solution could be blowing in the wind – a wind Soluna Technologies plans to harvest as soon as possible in order to provide an off-grid and renewable energy source for operators in the cryptocurrency economy.
The technology company, which was founded this year by New York private equity firm, Brookstone Partners, has landed the rights to an isolated 37 000 acre wind farm near Dakhla in southern Morocco, where the wind blows almost constantly at an average wind speed of just over 22 mph, or 10 metres per second.
ICO to Fund Crypto Mining Power Solution?
When complete, the farm would be capable of generating 900MW, but Soluna plans to start with just 36MW of that potential output. And it’s hoping to harvest the $100million needed to do so courtesy of an initial coin offering.
The 36MW will be a combination of the wind energy generated by three pods (modules). Each os these will produce 12MW of energy, and be complete with both an associated storage system to stabilize supply and a 6MW crypto or blockchain computing centre, capable of producing 160,882 tera hash every second.
Plans are that the farm will eventually to produce 900MW of renewable wind energy, generated by 75 of these pods. The estimated cost for the complete project is $3billion. In the white paper, Soluna said the wind farm was designed to be off-grid, and if it remained unconnected to the grid, it would be one the largest off-grid mining operations in the world when completed.