Powering a community through Bitcoin mining. A hydro-powered crypto mining project in Africa released an update on its efforts to bring energy developments to rural communities.
Earlier this week, the project also shared results of a successful $2 million funding round led by VC Stillmark and Blocks, the parent company of CashApp and Square.
According to Gridless, the funds from this round will be used to further the expansion of BTC mines across African markets while targeting rural communities for accessible energy. Erik Hersman, the CEO of Gridless, said that while BTC mining has been widespread throughout North America, Europe and Asia, Africa has great opportunities to diversify mining. He highlighted that renewable energy is abundant on the continent.
"This presents excellent potential for profits for both energy generators and miners as well as the ability to deliver real positive impact on the communities where it is put to use." Miles Suter, an active personality in the BTC community and lead at CashApp, visited one of sites in rural Kenya. Suter highlighted the renewable energy aspect of the project, as BTC mining has previously come underNext week an additional 10x hash comes online - allowing power providers to make the upfront investment in hydro for remote regions, by monetizing the stranded energy that previously made these deployments uneconomical.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Arthur Hayes Explains Why Bitcoin Has Likely Bottomed OutFormer Bitcoin CEO believes that worst might be over for Bitcoin after FTX-induced price crash
Read more »
Strike Launches Bitcoin Lightning Network-Enabled Money Transfers to Africa – Fintech Bitcoin NewsThe statement said the use of the Lightning Network’s rails makes the transfer of funds to any of the initially covered countries an almost costless exercise. payments bitnob
Read more »
Bitcoin․com Completes VERSE $50M Token Sale, Launches Token on Verse DEX – Press release Bitcoin NewsBitcoin.com, a digital ecosystem and secure self-custody platform where users can safely and easily interact with cryptocurrencies and digital assets,
Read more »
Bitcoin, Ethereum Technical Analysis: BTC, ETH Rebound on Friday, Following Volatile Week of Trading – Bitcoin NewsBitcoin was back in the green on Friday, with prices once again moving above the $17,000 level. Ethereum moved closer to $1,300.
Read more »
Bitcoin miner Marathon won't bid on bankrupt Compute North's assets, CEO saysBitcoin miner Marathon decided against a bid on bankrupt hosting provider Computed North, according to CEO Fred Thiel.
Read more »
IndyPL picks Gabriel Morley as new CEO over current interim CEO Nichelle HayesThe Indianapolis Public Library announced that its board of trustees has chosen Gabriel Morley, a library director from New Orleans, as its new CEO.
Read more »