Kumamoto-Energy based in Japan is a local power producer and also supplier organization which is based in Kumamoto City. Therefore, it has recently brought it to the limelight that it began using solar power for mining cryptocurrencies. This has, however, been seen as a perfect example of how Cryptocurrency mining can be done while upholding a greener future by the use of renewable energy.
Kumamoto Solar Power Mining
On Feb 20, 2018, the Kumamoto-energy Co Ltd just announced that it would establish an affiliate organization which will then operate a Cryptocurrency mining business. This organization is called OZ mining, and this was to be done in November 2017. The organization then stated that their main aim is to ensure that they utilize the surplus electricity in Cryptocurrency mining by use of the power output from the solar power generation plants. The Kumamoto-Energy has made partnerships with TakeEnergyCorporation Co Ltd which is involved in running “mega solar plants” in the Kumamoto Prefecture.
The Company makes an explanation that OZ mining sably makes electricity purchases from the Kumamoto-Energy at a price of ¥10-19/kWh (this depends on the area of supply, the season and contract) and then sets up various facilitates of the data center (mining farms). Additionally, container-based rigs for mining can be installed in the areas where the power is available which depends on the customer requirements. Additionally, this organization manufactures and sells systems where various miners can be involved in cooperation.
Mining for the Green Future
One of the Cryptocurrency attacks is their costly and power-hungry generation process. The crypto mining industry has been taking over major power plants, and this is growing steadily. We might find that most of the earth’s electricity is used in the creation of coins. Bitcoin mining consumes more energy than some nations, and this might become an environmental disaster.
The Kumamoto news shows that Cryptocurrency mining can facilitate greener future by using the hydro, solar and geothermal energy. Therefore, by the availability of these sources of power renewable energy is becoming affordable and profitable to the miners. This happens even though the sources are located far from the consumers.