A Bitcoin mining firm named Soluna is pondering over manufacturing with 36 megawatts unit in Morocco in January next year. Sprawling over an area of 37,000 acres, the proposed wind farm near Dakhla in Morocco would accommodate till 900 megawatts of wind capacity.
The North African country bordering the Mediterranean Sea and the Atlantic Ocean has plenty of prime real estate for generating wind energy along the line of its southern coast. The private cryptocurrency mining facility will be built in one of the world’s windiest locations to generate an enormous amount of power in a more eco-friendly and sustainable way. But without the application of the latest technology to install heavily-built transmission lines, it is quite tough for any of the traditional wind energy manufacturers to transfer the electricity to the populated cities.
One of the main purposes of the New York-headquartered bitcoin mining company Soluna which is backed by private equity firm Brookstone Partners, to launch such a crypto mining facility is generating a gigantic amount of $100 million to accomplish the project. The project will include computing facilities that draw till 18 megawatts including the energy storage system. This system is slated to provide powerful support to the computing centers during the situation when wind droops, as reported by Ars Technica.
The renowned bitcoin mining firm has a plan to leverage the local laws by selling off minimum 20 percent of its electricity output back to the government of Morocco, Coin Telegraph revealed. According to John Belizaire, CEO of Soluna, Morocco owns a law that complete assurance of power purchasing agreement (PPA) for the energy providers. He further elaborated that he is well aware of the political sensibilities of the region and cherished the legal frameworks concerning an energy development. Presently, the company will be hiring employees from Morocco to manage the operation.
The post New York-Headquartered Bitcoin Mining Firm Soluna To Commence Operations In Morocco appeared first on OWLT Market.
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