First Solar-Power Bitcoin Mining Plant Opens In South Australia
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Bitcoin Mining Plant
According to Angelo Kondylas, a representative from Lumos Digital Mining, the facility can mine at least 100 Bitcoins annually, but the quantity would rely on the availability of power. He mentioned that if production needs to increase, the business might, at some point, use power from the primary grid. Based in the Whyalla industrial district, the company also intends to assist other organizations interested in utilizing solar energy to engage in Bitcoin mining.
The state minister for trade and investment, Nick Champion, also mentioned that using solar energy will help decarbonize the blockchain in light of rising demand. Notably, the energy usage of Bitcoin mining has drawn attention when some nations are attempting to tackle climate change. More mining companies are using renewable energy sources to mine the asset in reaction to the outcry.
Power Use Concerns
The Executive Order (EO), which instructed Federal agencies to monitor the development of cryptocurrencies, includes the most recent worries about Bitcoin power use. As a result, the White House published its first-ever crypto framework on September 16 to advocate for tighter regulation and other legislation about cryptocurrency.