Solar-powered cryptocurrency mining facilities

Solar Alliance Energy Inc. announced that acquired a 165,000 square foot warehouse facility in Murphysboro, Illinois  as part of the “Renewing the Murphysboro Community Through Green Energy Jobs”. The Company signed a Memorandum of Understanding (“MOU”) to develop solar powered facilities designed to host cryptocurrency mining operations (including the Murphysboro project). This mining facility has low cost grid supplied power that aligns with a meter 3 megawatt (“MW”) solar array. Once complete, will reap the rewards from a recurring revenue channel from cryptocurrency mining tenants.

Blockchain and cryptocurrencies make the team work 

Solar Alliance is thrilled for solar energy to support the budding cryptocurrency industry. Blockchain technologies and cryptocurrencies  are  the cutting edge of a new distributed technology infrastructure. It would power cryptocurrency mining operations, are energy intensive, and using solar arrays to power them. Cryptocurrencies prevents fraud, speed payment settlement, reduce identity theft and provide global access to capital. The combination of solar and cryptocurrency mining facilities is a great step in the right direction. 

The MOU outlines the final steps to a Joint Development Agreement (“JDA”). The JDA includes provisions for preferred panel pricing, sponsor equity provision and a credit facility for development funding for cryptocurrency mining projects. A top tier manufacturer is an ideal partner to accelerate the expansion of solar power cryptocurrency mining facilities. Tenanting and supplying low-cost power to the cryptocurrency mining sector give team’s expertise in designing, permitting and the construction of large commercial solar projects and leverages that expertise into a new energy-intensive industry. There’s a high demand from cryptocurrency mining operations for stable and low priced power.  This  large project  includes clean energy training programs and attract new businesses to the Murphysboro area.

Solar and  cryptocurrency join forces

The marriage of solar and cryptocurrency stimulates the workforce and highlights the sense of community for a better future. Cryptocurrency mining operations use powerful computers to assist the inflexible digital ledger, also referred to as the blockchain.  Blockchain relies on miners to validate and record transactions through a network of computers. Miners validate, process, and supplement transactions to an unalterable ledger. This creates a tamper-resistant consensus in which the blockchain to function. Miners are rewarded with cryptocurrency  for contributing intensive computing power required to perform tasks. The computers demand power and are the key catalyst  to low cost power. The global cryptocurrency mining market was valued at US $610.91 million in 2016. It’s said to reach the U.S $38.38 billion by 2025, growing at a compound annual growth rate of 29.7 percent over the forecast period.

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