- BTC Mining farms are likely to be shifted to Olkaria, Kenya.
- The major concern of PoW will be struck out if KenGen comes into the scene.
Recent news on BTC mines has increased, either its implementation of restriction or portal for a new opportunity. This news is regarding lateral, Kenya’s largest Electricity producing company seems to be interested in providing renewable power to BTC Mining farms. KenGen produces almost 80% of power from geothermal energy.
The only constraint kept in front is the shifting of mining farms to this east African country. The plant suggests the placement of mines in Olkaria, Naivasha near the sustainable energy producer.
Peketsa Mwangi, the company’s geothermal development director, stated:
“We have the space and the power is near, which helps with stability”
Benefits to Consider
First is the lesser tension of environmental concerns while working on PoW or using BTC, given this is an eco-friendly solution. Second is the surplus supply of electricity for BTC mining, as prime nations like China, the US, and Europeans have either shut their door or gatekeeping vigorously.
Another is the profits to the Kenya government, as it has more chances to get added to the list of countries whose major revenue source will be crypto mining. With the reduction of power cost within the country as the usage will maximize, currently one-kilowatt costs around $0.22, the costliest in the world.
The requests from huge mining companies have already started approaching the company with large demands but the details are being kept in the shadows as of now.