Bitcoin: North America’s Largest Solar Mining Farm Coming To California Courtesy Of Plouton Mining
Leading American mining giant, Plouton Company is on the verge of building North America’s largest solar-powered bitcoin mining farm, the company announced the groundbreaking news via a press release on June 25, 2019.
Generation of Additional Megawatts
The California based company, which is a subsidiary of the Plouton Group Holdings, explained categorically that the new site in Western Mojave will be equipped with 49 acres’ solar panels, which will have the capacity to generate around 10-13 megawatts of electricity daily.
The firm expressed its optimism in the new project, stating that the new site will lead the way in the mining sector. Ramak J. Sedigh, the operation’s CEO of the firm states that the new and additional features of the mining rig will usher in a new wave of evolution, which will once and for all help bitcoin achieve its purpose as a sustainable, dependable and decentralized network of transactions.
He stated further:
We are excited to offer people the opportunity to participate in the growing bitcoin blockchain economy without having to purchase the mining equipment themselves.
The Bitcoin market is currently filled to the brim, as smaller and new participants have easily gain access to the market. The new interest in bitcoin mining cannot be disassociated with the increase in the price of the virtual currency.
The new revival in the mining industry is a welcome development because the industry was in a mess around last year. Mining giants and established names like Bitmain, had to re-strategize, in other to stem financial losses.
The limping Bitcoin price sent quite a lot of mining giants packing and the surviving ones had to cut costs, sack long-standing and new employees, while some had to merge to maintain financial stability.
The turn of the new year has however rejuvenated the industry and successful publicity as made mining attractive once again. The long-standing claim that it is damaging the environment has been quashed, as several experts maintained that more than 70% of activity utilizes renewable energy.
The crypto market is currently very attractive, as more investors and new traders are trooping in on a daily basis. This is largely due to the stability in the price of the coins and the renewed efforts to avoid another catastrophe.
Bitcoin Exchange Guide reported in May that the price of bitcoin remains stable at $7950, with analyst stating that the next bitcoin bull run will be very wild.
The surge in the price affected countries like South Korea and other Asian countries, as they witnessed a wave of new traders who showed a keen interest in bitcoin.
Several scholars are of the opinion that crypto winter has come to an end and investors can confidently invest in the sector.
Asian giant, South Korea is dominating the market with Korean exchange Bithnumb seeing the highest levels of fiat to crypto volume. The new crypto excitement in South Korea is encouraging, as the country is one of crypto friendliest countries in the world.