Cryptocurrency mining energy usage has come to the forefront of many issues involving the sector, now more than ever, especially with information such as that was revealed in a Senate hearing – that Bitcoin mining comprises almost 1% of the world’s electricity usage coming to light.
It is thus no surprise that the sector has been looking for solutions to the cryptocurrency mining energy problem. Alternatives such as Proof-of-Stake, Proof-of-Capacity, and Proof-of-Resource exist, but it can’t be denied that the blockchain as it is will not be going away anytime soon. That means energy consumption isn’t likely to significantly decrease as well.
Enter Soluna, a technology firm that wants to address the cryptocurrency mining energy issue by building a wind farm in the Sahara Desert in Morocco. The goal is to have this wind farm function as a dedicated power source for cryptocurrency mining operations.
Soluna aims to deliver clean power that is sustainable. “Soluna’s mission is to power the crypto-economy with clean, low-cost renewable energy. To do this, we are building a blockchain infrastructure and cryptocurrency mining company that owns its own renewable energy resources,” the company says in its white paper.
Furthermore, Soluna claims they can generate up to 900MW of electricity. While that’s only 1/3 of the current consumption of Bitcoin mining, it does present an alternative.