Plouton Mining has confirmed that it will construct the largest solar-powered bitcoin mining operation for North America.
This could turn out to be an extremely profitable venture, considering the rate at which cryptocurrencies are rising in value. This is why, no expense was spared when the location for the largest solar-powered bitcoin mining operation was chosen.
The construction will take place in Western Mojave, also known as the rain-shadow desert and the driest desert in all of North America. Choosing the right location was vital to the entire mining operation’s success.
The largest solar-powered mining operation is currently NOT a risky investment
The high annual quota of sunlight averages 70% and Plouton Mining is already discussing potential agreements with local utilities providers. Low-cost electricity will probably be secured with a big initial investment.
It’s currently expected that the entire mining operation will feature roughly 50 acres of solar panels. Rough estimations suggest that when the entire mining operation is functional, the panels will generate 10 to 13 megawatts of electricity every day.
A little less than 5 months ago, mining giants such as Bitmain, were devastated by the prolonged bear market. Many mining giants were quickly thinking of drastic measures to change their companies’ trajectory.
With the recent price surge, crypto mining is bound to see a rising amount of interest. There is already a slow and steady resurgence in mining profitability.
After Bitmain laid off a huge part of its employees and suffered throughout the entire bear market, it’s very likely that a new leader in crypto mining equipment will show up.
Many countries simply aren’t suitable for crypto mining operations due to the high electricity costs. Public opinion on crypto mining however, is slowly starting to change.
Crypto mining operations have been called “environmentally damaging” for quite a while. A recently conducted study however, revealed that more than 70% of the mining activity is already utilizing renewable energy.
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Tags:bitmain 2019crypto mining renewable energymining profitabilityMojave Desert Mining SiteNorth America crypto miningPlouton Mining