Crypto Mining

Spanish Crypto Mining Firm Seeks Chinese Solar Panel Plans

The digital industry is making immense new changes in the world of technology and the vast potential it offers has helped giant enterprises and industries to realize it and make something big out of it. Recently, the report suggests that a Spanish-based crypto mining firm, Cryptosolartech will use renewable energy for conducting its work. The firm contracted with a Chinese developer of photovoltaic solar panels to constitute a solar farm.

The new plans recently unveiled by the mining firm in an official statement, where it detailed how they are planning on teaming up with the solar panel makers to build a solar farm which can reproduce nearly 300 MW capacity. The Chinese solar panel company partnering up with Cryptosolartech is the Risen Energy Spain which will team up to build a solar farm in the Southern European country.

According to the vision, the new farms will unleash the electricity through the solar panels and will use solely for cryptocurrency mining. The main motive behind creating a solar panel farm is to use resources and energy for equipping the necessities for an efficient and sustainable way to mine cryptocurrencies.

The firm statement says that the development of solar farm will conduct in phases, where the first phase will include putting up photovoltaic plates in Seville province of Spain. Next will be to use the electricity produced from the constitution of these plates and resource it to the mining farms located at Malaga.

The cryptosolartech statement states, “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.”

Moreover, this isn’t the first time that the company has worked on such a project, but this might be the biggest one of them all. The mining firm already has two operational plants, and there are three more on the way and under construction. There are always some experts bashing the overuse of electricity by the cryptocurrency mining sector.

As a result, there are many crypto mining firms and enterprises who decided to look at things in a way that is sustainable to the environment. The solar panels are expected to produce the needed energy capacity by bringing in a productive way of cultivating the energy and resulted in solar farms. The statement stresses the fact that these farms can reproduce nearly 300MW of electricity and will only use for mining cryptocurrencies in the selected city.

About the author

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Margi Brambhatt

Margi has done diploma in Mass Media & Journalism. She has previously worked as a freelance reporter for various famous Finance media platforms. When she is not writing or editing others reports, you can find her engulfed in reading books. She believes in reporting content which is 100% well researched.

You can also mail her at [email protected] to discuss anything related to her reports.

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