A group of bitcoin miners has set up a small operation near Hell’s Gate National Park in Kenya, utilizing a mix of solar and geothermal energy to power their machines. The operation is run by a startup called Gridless, backed by Jack Dorsey’s Block. Gridless operates six mines in Kenya, Malawi, and Zambia, working toward decentralizing the bitcoin network.
CEO Erik Hersman explains that decentralization is a key feature of bitcoin, allowing the network to remain uncontrolled by any entity. The process of mining bitcoin requires a significant amount of electricity, leading miners to seek out the most affordable sources of power. Despite the volatility of the cryptocurrency market, miners around the world are continuing to process transactions and validate new tokens.
Gridless’s innovative approach to using renewable energy sources for bitcoin mining aims to bridge the gap between power generation and capacity in Africa. By repurposing stranded renewable energy sources, the company is not only securing the bitcoin network but also electrifying households in the region. The company’s operations have powered thousands of houses and supported various sustainable initiatives in the communities where they operate.
A small group of bitcoin miners are operating near Hell’s Gate National Park in Kenya, using geothermal power and solar energy to mine the cryptocurrency. This operation is run by Gridless, a startup backed by Jack Dorsey’s Block, which also operates mines in Malawi and Zambia. Bitcoin mining is a volatile business dependent on the price of the cryptocurrency, but recent rallies have led to renewed interest in the sector. The process of proof-of-work, used to create bitcoin, requires significant amounts of electricity and miners are constantly seeking out the cheapest power sources to remain competitive. Gridless aims to secure and decentralize the bitcoin network by utilizing renewable energy sources in Africa to power their operations. By leveraging stranded renewable energy, Gridless is helping to provide electricity to remote areas while also supporting the bitcoin network. This innovative approach is not only sustainable but also economically viable, benefiting both the power supplier and the end consumer.
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