Cryptosolartech, a Spanish cryptocurrency mining firm that uses renewable energy for its operations, has contracted a Chinese maker of photovoltaic solar panels to put up a solar farm with a production capacity of 300 MW.
Risen Energy Spain, the Spanish subsidiary of Chinese firm Risen Energy, is partnering with Cryptosolartech to build the solar farm in the Southern European country with a view of using the electricity produced from the solar plant solely for the mining of cryptocurrencies.
According to a statement released by Cryptosolartech, the development of the solar farm will be conducted in phases. The first phase of the project will involve putting up three photovoltaic plants with a combined capacity of 45 MW in Spain’s Seville province. The electricity produced from these farms will be directed to cryptocurrency mining farms which are currently located in Malaga city.
“With this, we can finally give way to the start-up and installation of the photovoltaic plants with a capacity of 300MW, thus providing clean energy to the largest cryptocurrency mining farm in Spain, our farm,” wrote Cryptosolartech in a statement.
Two Solar Farms Up and Running
While two plants are already operational, Cryptosolartech also has three other plants which are currently being constructed. The solar farms which have been completed are Marchena and Cantillana while those under construction are Salteras, Palomares and Alcala de Guadaira.
With critics every now and then slamming the cryptocurrency mining sector over its heavy usage of electricity and consequent contribution to global warming, Cryptosolartech is not alone in turning to renewable energy as a solution. In Australia, for instance, D Coin, the cryptocurrency subsidiary of a data center operator DC Two was reported two months ago to have been in the process of developing a crypto mining facility that uses solar energy.
Reducing Bitcoin’s Carbon Footprint
Located in a coal town, the facility which is expected to offer reduced rates relative to other data centers is set to begin operations early next year, as CCN reported then.
“By providing customised low cost hosting options specifically engineered for cryptocurrency and Bitcoin mining at globally competitive rates, DC Two & D Coin have been able to attract the interest of both the local and international crypto mining community,” said the company as reported earlier.
Additionally, mid this year, Hollywood actor William Shatner announced his involvement in an effort focused on promoting the use of renewable energy in the mining of cryptocurrencies. This was through Solar Alliance, a Vancouver, Canada-based firm that counts Shatner as its spokesperson. Then, the firm was reported to have acquired an abandoned warehouse in the state of Illinois with a view of renting it out to cryptocurrency miners who will use electricity generated by a 3 MW solar farm.
Featured image from Shutterstock.Get Exclusive Crypto Analysis by Professional Traders and Investors on Hacked.com. Sign up now and get the first month for free. Click here.