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North America’s Largest Solar Bitcoin Mining Farm Coming To California (#GotBitcoin?)

California-based mining company Plouton Mining will build North America’s largest solar-powered bitcoin mining farm, the company confirmed in a press release on June 25. North America’s Largest Solar Bitcoin Mining Farm Coming To California (#GotBitcoin?)

Plouton, which is a subsidiary of Plouton Group Holding, says the site in Western Mojave will feature around 49 acres of solar panels generating 10-13 megawatts of electricity daily.

The location was chosen due to its high annual quota of sunlight, which averages 70%, with the company planning to enter agreements with local utilities providers to secure low-cost power for the remaining time.

“The preeminent combination of nature and technology will usher in the next stage of bitcoin mining evolution, fulfilling the promise of Bitcoin as a sustainable, decentralized network of transactions,” Ramak J. Sedigh, the operation’s CEO, commented in the press release.

“We are very pleased to offer people the opportunity to participate in the growing Bitcoin blockchain economy without having to purchase the mining equipment themselves.”

As Cointelegraph reported, the uptick in bitcoin (BTC) price has led to a resurgence in both mining profitability and decentralization as smaller participants gain easier access to the market.

At the same time, the period since last November has seen major upheaval among the industry’s traditional heavyweights such as Bitmain, which have variously enacted staff cuts and closures to stem financial losses.

Canada’s Hut 8, one of the world’s largest publicly-traded cryptocurrency mining companies, in May reported 2018 losses of $140 million.

Long subject to claims it is environmentally damaging, bitcoin mining has meanwhile received better publicity in recent times after a study revealed more than 70% of activity already utilizes renewable energy.

Bitcoin Miner Buys 5,000 ASICs As Network Hash Rate Climbs To New All-Time High

German Bitcoin (BTC) mining company Northern Bitcoin has signed a deal to buy almost 5,000 mining rigs from Bitmain and Canaan Creative, the company confirmed in a press release on July 1.

Northern, which is headquartered in Frankfurt but operates a site in Norway, aims to double its capacity, currently operating with 55 petahashes per second.

The expansion is part of a long-term scaling plan with a focus on sustainable energy which began last week, officials explained, as the Bitcoin mining industry becomes ever more popular and competitive.

“The acquisition of the sought-after hardware is a great success for our company,” Moritz F. Jäger, CTO of Northern, commented in the press release.

“With the doubling of our mining equipment just a few days after the start of our global scaling, we are setting the pace with which we aim to take a leading position in the fast-growing blockchain industry in the coming years.”

The announcement came at the same time as the Bitcoin network’s overall hash rate hit yet another new record. As of Monday, the number had surpassed 69 quintillion hashes per second – as investor Kevin Rooke noted, ten times the number of grains of sand on Earth.

Northern meanwhile added it would seek to open new sites in future at as yet undisclosed locations.

Last week also saw U.S. mining operator Plouton Mining announce a new plant in California, set to become North America’s largest solar-powered installation.

As Cointelegraph reported, current estimates consider around 74% of the world’s Bitcoin mining activity to come from sustainable sources.

 

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