The coin minting facility has been set up in a region known for its energy-hungry iron ore extraction and steel production.The ‘Steel City’ ofin South Australia has become home to a new crypto mining installation that will run on electricity generated from solar power. Operated by the Lumos Digital Mining company, the 5-megawatt facility will be minting bitcoin, a process often blamed for its energy-intensive nature.
Local authorities see the solar-based crypto mining project as a proof that bitcoin generation can be more environmentally friendly. Commenting on the undertaking, South Australia State Minister for Trade and Investment Nick Champion elaborated: The government official also hopes to see other data centers mining cryptocurrency using renewable energy in the future. “There will be demand for blockchain, but also carbon-neutral blockchain so I think we will see more and more facilities like this,” he expects.by the White House Office of Science and Technology Policy estimated that cryptocurrency production in the United States alone represents as much as 0.3% of global greenhouse gas emissions.
So far, mining has no value. Miners shut down their businesses
That’s kinds great news.
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