By Bitcoin.com - 1 year ago - Reading Time: 1 minutes
Kenyan Firm Using Wasted Energy to Mine Bitcoin — Business Model Said to Potentially Help Decentralize Mining
A Kenyan bitcoin mining company, Gridless, recently revealed how it is helping local communities reduce electricity costs by using excess generated power to mine bitcoin. The Gridless model has been hailed because it potentially helps to decentralize bitcoin mining as well as move some hashpower to Africa.
Using Wasted Energy to Mine Bitcoin
Gridless, a Kenya-based crypto mining company, has said the excess electricity from mini-grid hydro generators is now being used to mine bitcoin. The revenue generated from bitcoin mining helps to reduce or subsidize the cost of electricity.
In a recently issued statement, Gridless said while mini-hydropower plants that generate below 100 KW (kilowatts) are being used so far, the company’s objective is to work with larger plants which can generate 500 KW. The bitcoin mining company said:
We’ve been working with mini-grid hydro generators in Kenya on how to use their excess capacity for Bitcoin mining, which also significantly reduces the cost of power to the local community. Small
Original source: Bitcoin.com