At the end of May, the largest photovoltaic park opened in Moldova. The solar park, located on an area of 2.5 hectares, has a capacity of 1 MW. Renewable energy from alternative sources is intended not only to serve the residents of Moldova, but also to ensure the interest of investors associated with blockchain technology.
Representatives of the Italian companies Fly Ren Energy Group and Consulces Tech, who acted as the main initiators and investors of the project, clarified that the main goal of the project is to create a mining farm on its basis.
The solar park will become an experimental platform for environmental mining and determine the possibility of creating farms for the extraction of crypto coins on the basis of similar alternative energy parks.
Technical details and time frame for the project are still unknown. Moldova pursues a loyal policy towards cryptocurrencies and blockchain technologies, welcoming startups on its territory. In May, World Block Chart and Cryptocurrency Summit Chisinau (WBCSummit Chisinau) in Chisinau was held with the full support of the state. However, the country does not have enough energy capacity to develop this segment, and the specifics of the Moldovan energy market greatly hinder the development of innovative blockchain technologies in this region.
The also unrecognized Transnistrian Moldavian Republic adopted the Law “On the Development of Information Blockchain Technologies”, which officially legalized cryptocurrency mining on its territory. But the republic is counting on traditional sources of electricity, the Dubossary hydroelectric station and three mini-CHPs in Tiraspol.
Experts note that the trend of increasing electricity consumption is growing. Over the past year, 14.54 TWh (Bitcoin) and 4.69 TWh (Ethereum) of electricity were spent to support the production of major cryptocurrencies. The figure for Ethereum mining costs is comparable to the consumption of the entire Moldova, and Bitcoin to the needs of Turkmenistan. Today, all mining farms use less than 1% of global electricity consumption, but this percentage is steadily increasing and more and more projects using alternative sources are appearing on the market.
So the state wind farm in Estonia provided 6 megawatts of natural energy for mining. Canada is actively using its reserves of cheap renewable energy and is a leader in the field of environmental mining.
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