A Nantes company has launched a fundraiser to finance a mining farm park. It would be spread over several continents and close to over-capacity renewable energy sources. The objective is to reach 40 million euros. A real challenge, when you know the ecological impact of Bitcoin.
Funds for the purchase of mining equipment
On February 9, a Nantes company launched a fundraiser intended to raise between 25 and 40 million euros. The project concerns green mining farms, scattered all over the world, but above all placed near renewable energy sources. The money raised will notably be used to invest in mining equipment. The company will take care of ordering the machines for its customers, knowing that a miner will cost around 14,000 euros.
BUY AND RESELL MEGAWATTS
Another objective is to buy and resell megawatts. It is well known that energy is a hot topic in the cryptocurrency world. The profitability of the activity depends on the cost price of the electricity, since the company is remunerated on the 15% of fees collected. Already present in Congo and Kazakhstan, the company aims to expand its fleet internationally. In total, a total deposit of 900 megawatts has been identified in several countries, such as El Salvador or Oman.
The Nantes-based company also hopes to use gas from flares. These are polluting discharges from the exploitation of natural gas and oil. The idea here is to transform them into electricity, thanks to mining containers. In this way, it would be possible for oil companies to monetize their gas dump.
Bitcoin and ecology
Whether you are used to going through the Margex platform to trade Bitcoin or you are just starting to take an interest in the issue, you have necessarily already heard that this crypto-asset is not good for the ecology. Carrying out two transactions would be like throwing away a tablet and would represent approximately 540 grams of waste. However, it is becoming more and more certain that Bitcoin will still be present ten years from now and one of the challenges is therefore to reduce its impact on the planet.
REDUCING THE ECOLOGICAL IMPACT OF MINING
The French company therefore intends to hunt green energies to reduce the ecological impact of the digital asset. For the moment, they would operate 56% of the world’s mining. But this figure could well increase in the coming years. To do so, the Nantes society has decided to turn to polluters-payers doing greenwashing, but also to renewable energy projects poorly served by local communities and infrastructures. By developing this strategy, the idea remains to rally large companies linked to the Bitcoin ecosystem.
A PROJECT TO CREATE A FRENCH MINING COOPERATIVE
Still with a view to reducing the ecological impact of Bitcoin mining, the Nantes-based company has the idea of creating a French mining cooperative. This project would make it possible to obtain a greater strike force and to be better heard at the national level, but also internationally.
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