The potential of geothermal energy to generate clean, renewable and cheap energy has been widely acknowledged and harnessed in developed countries like the US, UK, New Zealand and Iceland. In fact, geothermal power supplies 25% of Iceland’s energy needs, as well as supplying heat to 90% of households in the country. If geothermal energy can provide up to 40% of electricity in Iceland (as stated by Dr Björn Ólafsson, an Icelandic expert on geothermal energy), then what about other underdeveloped countries like Kenya?
Will Kenya Become the New Global Cryptocurrency Hub?
In a bid to support a green economy, Kenya produces 38% of its energy needs through geothermal power. This move to renewable sources could provide an opportunity for cryptocurrency miners looking to set up their operations away from China. Is Kenya’s mining-friendly climate attracting new interest from miners around the world?
Is GeoThermal Power an Option for Cryptocurrency Mining in Kenya?
The short answer is yes. GeoThermal power can be used to mine cryptocurrencies such as Bitcoin and Ethereum, among others. But does it make sense to use geothermal energy for cryptocurrency mining? Should we pursue it as an alternative power source here in Kenya and East Africa, given our abundant reserves of geothermal energy in nations like Iceland, Costa Rica, Philippines, Japan and more…
What Are the Benefits of Using GeoThermal Power for Cryptocurrency Mining in Kenya?
On January 11, 2018, a local Kenyan newspaper reported that Bitcoin mining is using up so much energy that it has led to increased electric costs and poses a threat to public safety. Although these claims may be exaggerated, many have recognized that cryptocurrencies have a significant energy footprint. With data centers (which are necessary for crypto mining) comprising nearly 2% of global electricity consumption today and growing, there’s no denying that cryptocurrency mining is becoming one of the world’s fastest-growing sources of energy consumption.
Where Can You Get More Information on How to Use GeoThermal Power for Cryptocurrency Mining in Kenya?
Bitcoin mining is an energy-intensive process that involves a massive amount of hardware and electricity. So much, in fact, that few cryptocurrency miners have found ways to utilize geothermal power to replace some of their dependence on traditional power sources. Could one country’s abundant supply of geothermal energy replace traditional power grids altogether? This is one question being asked by several developers located near Hell’s Gate National Park, which is known as Africa’s only true geothermal reserve.
KenGen, a producer of energy in Kenya, wants to supply excess geothermal energy to bitcoin mining businesses so they can meet their energy requirements. Mining companies have gotten in touch with KenGen about purchasing its electricity, which is largely produced by green sources.
Currently, geothermal energy is primarily used to generate electricity, heat homes and businesses, and also provide hot water. But now that crypto mining has become such a popular pastime around the world, it’s only natural that innovative minds will think of ways to use geothermal energy on mining farms. Is it possible to build crypto mining farms in areas of high geothermal activity around the world? We think so!