Kenyan Volcano Turns on Lights in Rural Homes with Jack Dorsey’s Bitcoin Mining Support
In a remote region of Kenya, a group of Bitcoin miners has found an innovative way to power their operations and bring electricity to rural homes.
Located near Hell’s Gate National Park, the miners have set up shop at the site of an extinct volcano, where they utilize a mobile container equipped with solar power and energy from a nearby geothermal site.
This unique setup allows them to mine Bitcoin while simultaneously electrifying local communities.
The venture is led by a startup called Gridless, backed by Jack Dorsey’s Block.
Gridless operates six mines across Kenya, Malawi, and Zambia, all powered by a combination of renewable energy sources.
“Most people think about bitcoin and the price of bitcoin and how they can save value in it or maybe spend it,” Gridless CEO Erik Hersman told CNBC .
“That doesn’t happen without the bitcoin miners and us being globally distributed .”
Bitcoin mining is a process that requires substantial amounts of electricity. Miners worldwide run powerful computers to validate transactions and create new tokens.
Seeking the cheapest sources of power , miners often face challenges due to fluctuating cryptocurrency prices.
However, the recent surge in Bitcoin’s value has renewed interest in mining operations, making it more profitable to continue supporting the network.
Analysts predict a shift in the geography of crypto mining following the recent halving event, as profit margins become slimmer.
Countries with lower energy costs, such as those in Latin America, Africa, and the Middle East, are attracting crypto miners.
This presents an opportunity for renewable energy developers in these regions to utilize their excess power and support the expanding Bitcoin
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