-Bitcoin news, price, information & analysis A remote location in Morocco has become a strategic spot to build a 900-megawatt wind farm as bitcoin miners look for cheap electricity in order to set up their computing centers. The spot south of Marrakesh is likely to turn into a cryptocurrency mining hub as the ecosystem favors renewable energy rather than utility grids fed by traditional fuels like coal.
Some of the world’s largest cryptocurrency mining companies have moved their operations to Canada, Georgia, and Iceland, in a quest for cheap electricity powered by renewable energy. New York private equity firm Brookstone Partners announced it is eyeing a location wedged between the Sahara Desert and the Atlantic Ocean to develop a 900-megawatt wind farm which would likely attract a multitude of Bitcoin miners as well.
Brookstone Partners is currently raising cash to enter the first phase of the development project, managing general partner Michael Toporek told Bloomberg. “We have exclusive rights to the area for a wind farm, but the issue was there’s no real place to put the electricity.
These days, what you can do with stranded power is set up a computing center, develop this as an off-grid project.” Soluna, which was founded this year by Brookstone, will be the face of the fundraiser via an initial coin offering (ICO). It is looking to gather $100 million from investors to build the first 36 megawatts of turbines in a project that could eventually cost up to $3 billion upon completion.
The project focuses on vertical integration, wind-powered renewable energy, and utility-scale operations, Soluna CEO John Belizaire said on the announcement. “Our vision is to power the blockchain with clean, renewable energy that we own and control. Read more from newsbtc.com…
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