Kenyan villagers will start mining bitcoin to pay their electricity bills
A new project by cryptocurrency mining company Gridless will reduce costs by up to 90%
06.10.2022 - 09:35
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What’s new? Gridless, a mining company that supports local energy development in Africa, has announced the launch of a project that will allow villagers in Kenya to significantly reduce their electricity costs. According to an announcement on Twitter, grid hydro generators will be able to use excess capacity to mine bitcoin.
We’ve been working with mini-grid hydro generators in Kenya on how to use their excess capacity for Bitcoin mining, which also significantly reduces the cost of power to the local community. Small <100kW sites now, working towards 500kW soon. pic.twitter.com/frhoHi9uR0— Gridless (@GridlessCompute) October 5, 2022
What else is known about the initiative? Connecting mining farms to mini-grids is designed to reduce electricity bills. Currently, villagers pay for 100 kW and only use 10 kW, making prices too high. Connecting BTC mini-grids would reduce energy costs by 90%. Gridless noted that small facilities in rural areas are currently operating at less than 100 kW, but that capacity could soon be expanded to 500 kW.
Earlier, the Mohawk Council of Kahnawake announced the launch of a hydropower mining farm in the Canadian province of Quebec. The project, implemented jointly with Kahnawake Blockchain Technologies, is aimed at increasing the income of the residents of the Kahnawake Reservation.
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