First Solar-Powered Bitcoin Mining Farm Opens in South Australia

Published:

18 Sep 2022 13:38 GMT

The installation will have a consumption capacity of five megawatts, and according to estimates, it will be able to produce up to 100 bitcoins per year.

The first solar-powered bitcoin mining farm in South Australia has gone live in the town of Whyalla, reported this Friday local media.

The facility, operated by the company Lumos Capital Mining, will have a consumption capacity of five megawatts, and according to estimates, will be able to produce up to 100 bitcoins per yearwhich will depend on the availability of energy.

Angelo Kondylas, from Lumos Capital Mining, pointed out that the company could also sell the energy generated, when its production is high and there is low consumption in the facilities. He also reported that the company plans to double the size of the farm.

For his part, the Minister of State for Trade and Investment, Nick Champion, indicated that the fact that the farm could work with solar energy shows that the generation of bitcoin could be more Respectful with the environment.

“This is important for the decarbonization of the blockchain, which is an energy-intensive industry,” he said, adding that the installation may mean “the beginning of a new economy“in the city.