Crypto mining has seen its share of challenges in the last few months as the prices have slid. This has led to cost cutting, the biggest challenge being electricity. Unsurprisingly an American startup is looking to now provide low-cost renewable energy to these mining farms. Revealed on CryptoSlate, Plouton Mining has started works on one of that largest and most ambitious solar farm for Bitcoin mining in the Mojave desert of California.

The Los Angeles start-up has been founded by Samuel Del Real and Cole Walton. With vast experience in real estate, the duo has purchased 50 acres of land and envisioned a future of sustainability for the blockchain industry. The firm has been driven by need as much as it has been by individual passion.

In a recent interview, Samuel discussed how his company evolved from selling ASIC machines to their present iteration.

“We had the number one store on eBay for selling ASICs S9 Antminers in 2017. After we had gotten involved in the space, we wanted to figure out what other ways we can participate in a more meaningful way. Mining BTC naturally was it.”

Since powering the devices at competitive costs was the biggest challenge, they started an analysis of the best ways of crossing that hurdle. The next logical step was to look at renewable sources. And inspiration was not too far, “Mojave CA, happens to be ranked in the top 12 places in the world for solar power due to its placement and overall days of sun.” Thus the company began work towards innovation for a sustainable energy solution geared towards the Bitcoin network.

A cancer survivor and an inspirational figure in his neck of the woods, Samuel discussed entrepreneurial challenges. Talking about a start-ups propensity for failure, he feels that mistakes are bound to be made, but people need to be unafraid of failure and second attempts.

“Put your money where your mouth is and show up. Work your ass off fail and pick up again fail and pick up again. Life’s not easy and neither are businesses.”

Solar energy is a cheap source of renewable energy but by co-locating ASIC miners closer to the source greater efficiencies of harvesting can be utilized. After all Crypto mining has increasingly become a game of hash production using minimal electricity. And as things progress the focus is increasingly on the production of more efficient computer chips and cheaper power.

Plouton mining is not an isolated instance. Increasingly the energy sourced for mining has been coming from renewable sources. In fact, a recent report in this very publication found that as much as 75 percent of Bitcoin mining was done using renewable energy. This is undoubtedly a conscious effort on the part of the community as they are well aware of their social responsibility.

Our report had also shed light on the increasing decentralization of mining. Earlier studies had concluded that China was the source of almost 75 percent of Bitcoin mining in the world, a cause of concern, both in terms of the political implications, as well as a risk of a 51 percent attack. However, there has been a recent trend of miners leaving for countries such as Russia, Iceland, and Canada that offer friendlier regulations and cooler climates along with the option of renewable energy. This has led to a decrease of an estimated 15 percent already.

In a world where we are increasingly looking to shut ourselves from others, an initiative for the greater good is most welcome. The crypto industry has been making a conscious effort to improve its image in the mainstream media and this is certainly a step in the right direction.

Bitcoin (BTC), Ethereum (ETH), XRP (Ripple), and EOS Price Analysis Watch (Feb 7th)

Similar to Notcoin - Blum - Airdrops In 2024

origin »

256 +