A first-of-its-kind, solar-powered Bitcoin mining plant has become operational in Whyalla, South Australia, according to ABC News.
Operated by Lumos Digital Mining, the 5MW data centre will be used to mine Bitcoins—an energy-hungry cryptocurrency that requires computers to solve complex maths problems for financial reward.
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Bitcoin is the world’s biggest cryptocurrency, and computers used to mine the virtual currency can consume more energy each year than medium-sized nations such as Argentina.
State minister for trade and investment Nick Champion said the solar-powered plant showed Bitcoin generation could be more environmentally friendly.
“This is important for decarbonising blockchain, which is a very energy-intensive industry,” he told ABC News.
“I think it’s the beginning of a new economy out here at Whyalla.”
Champion said he hoped to see more cryptocurrency miners using renewable energy.
“There will be demand for blockchain, but also carbon-neutral blockchain so I think we will see more and more facilities like this,” he said.
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Lumos Digital Mining’s Angelo Kondylas said the company could potentially on-sell generated power to others who wanted to take advantage of blockchain technology.
While the site was primarily solar powered, Kondylas said it could ramp up production to draw more power from the grid on the days when electricity generation was high.
