Renewable Bitcoin Mining Farm to be Developed in Australia
A Bitcoin mining farm which will be solely powered by renewable energy is being developed by an Australian data centre operator DC Two.
A Bitcoin mining farm which will be solely powered by renewable energy is being developed by an Australian data centre operator DC Two. It will be developed in a town called Collie in Australia, which is 200 km south of Perth and is known for mining coal.
The project will be built with the help of Hadouken Pty. It will be Australia’s first renewable energy powered crypto mining centre along with being a data center. Hence it will be low cost to compete with several other cheaper companies.
The company’s spokesperson said,
“By providing customised low cost hosting options specifically engineered for cryptocurrency and Bitcoin mining at globally competitive rates, DC Two & D Coin have been able to attract the interest of both the local and international crypto mining community. This is very important for the state and the country as it enables us to provide another export product by hosting and supplying power to international customers in the Collie data center, who might have otherwise located their equipment overseas.”
The first stage of operations will be in the first few months of 2019 and will use power of upto 4 megawatts. A service of about 256 IT racks are said to be done, with 30kw of load capabilities.
The company said,
“In complete crypto mining configuration, using the initial 4MW power availability, the data centre could mine about 650 bitcoins per annum worth around $6 million based on current mining and exchange rates.”
Reports indicate a single transaction in the Bitcoin network consumes enough energy to power 28.79 US households for a day. Hence the entire Bitcoin network is said to consume as much as 5,699,560 households in the United States, which is equal to a country like Ireland.
This is not the first announced ‘behind the grid data center’ project in Australia. In May a Sydney based blockchain firm called IoT Group which is on the Australian Securities Exchange had announced a crypto mining operation along with Bitcoin mining hardware company Bitfury.
Source: cryptbuzz
