Hadouken Pty Ltd, owned by Australian Ben Tan will set up 20-Megawatt solar Farm in Australia. Mr. Tan who was the co-founder of VivoPower International PLC (Nasdaq listed solar energy corporate) applied to set up a Solar farm in Collie, Western Australia to power a Bitcoin mining operation. Reports indicated that the submission has been approved and granted.
Solar Energy in Assertion with Cryptocurrency Mining
The large-scale adoption of solar energy for this Bitcoin mining operation points to an emerging trend of cryptocurrency mining with renewable energy. Collie, a rural town in Western Australia is a major coal mining hub – For about sixty years, two coal mining centers of Collie generated sixty percent of Western Australia’s coal-fired electricity. Moreover, it is the center where Muja, a coal-fired power station produces 854 MW of electricity.
The new solar farm will be located 2 kilometers north of Collie. With this, Hadouken intends to install a battery storage system, in shipping containers in the future. The eighteen-hectare site will be set up for a solar facility within three to six months. The proposed solar farm construction is expected to be completed within three to six months. This will require a workforce of between 40 and 80 workers which include part-time staff for maintenance tasks in future.
Collie is a Promising Hub for Bitcoin Mining
Setting up the cryptocurrency mining operation requires a lot of electricity, adequate location, and a detailed cost/benefit analysis that takes the volatility of Bitcoin prices into consideration. Australia seems to be a promising country to set up mining operations that rely on solar energy, although it presents challenges when managing the temperature level of the mining rigs and the issue of operating with batteries when the sun is down.
Collie, a rural city in Western Australia is the appropriate location to set up Bitcoin mining operations and data centers. Focusing on Collie’s potential as a Bitcoin mining operation hub, Mr. Tan described Collie as “an excellent spot for a solar farm”. The approval of this plant can “be a positive contribution towards establishing a greater presence of the renewable energy sector within the Shire of Collie.”
Renewable Energy for Bitcoin Mining
Renewable energy in tandem with bitcoin mining looks like a more attractive option lately. Crypto mining has spread into areas where renewables are prominent, such as Iceland with its geothermal generation capacity. With reports pointing out that bitcoin mining consumes more electricity, using solar energy could be a good solution, if enough energy can be stored for the times of day in which it cannot be generated. Despite being accused of polluting, Bitcoin mining can be a great catalyst for the transition from fossil fuels to renewables; Collie in Western Australia will be one of its testing grounds.