Crypto Mining Firm Soluna to Begin Construction Of Massive Mining Farm In Morocco By Early 2019

U.S. Bitcoin mining company Soluna has announced that it will begin the construction of Morocco’s 36 megawatt Bitcoin mining farm in January 2019.

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U.S. Bitcoin mining company Soluna has announced that it will begin the construction of Morocco’s 36 megawatt Bitcoin mining farm in January 2019.

Soluna to build Bitcoin mining farm in Morocco

Bitcoin mining company Soluna has disclosed its intentions to begin construction of a wind facility to produce up 36 megawatts for the purpose of mining Bitcoin.

John Belizaire, CEO of Soluna, told Digital Trends:

“Our current plan is to start construction of phase one in early 2019 and complete in early-to-mid 2020. We have started soliciting bids from some of the best turbines makers. They are all excited by the prospects of this project.”

According to Belizaire, in order to begin construction of the facility, the mining firm plans to raise $100 million by which they would eventually complete the project.

Soluna has secured rights to 37,000 acres of land on the southern coast of Morocco. In its initial stage, the facility will provide 36 megawatts of electricity, however, the capacity can be upgraded to 900 megawatts over time.

Mining with renewable energy

Soluna Technologies ups the Bitcoin mining game by striving to create a facility that uses only clean, eco-friendly, and sustainable energy for its operations.

Morocco proves to be a great location for such a task, offering a vast expanse of real estate, along having the correct weather to make wind farms a viable source of energy.

Although starting at $100 million for constructing a 36 megawatts wind farm, the entire project as announced by the Bitcoin mining firm could cost up to $2 billion for the construction of a 900-megawatt wind farm power plant.

The 37,000 acres of land will be used for the construction of the wind power plant, whose energy will be used primarily for cryptocurrency mining, but also distributed graphics rendering, file storage, and machine learning computation.

Belizaire noted:

“Our FLAGship locATION IN DAKHLA, Morocco is better known as the ‘Kitesurfing Capital of the World,’ Wind travels at over 23 miles per hour for most the year, making the region one of the best wind locations. Our site is very flat, with no sand dunes, and therefore not much in the way of dust or sandstorms. It is twice the size of Manhattan, or 37,000 acres, across sixty miles.”

Should it reach maximum capacity, Soluna’s project could well grow to become one of the largest off-the-grid cryptocurrency mining operations in the world.

Soluna to leverage government laws

Soluna just like every other mining firm, tend to move to areas with reasonable cheaper electricity tariffs, renewable energy, or favorable government laws.

Morocco has a scheme known as a Power Purchasing Agreement (PPA), which the Bitcoin mining company will be able to leverage to establish a foothold in the region with the possibility of expanding to other countries in the near future.

John Belizaire told Digital Trends that he hopes that the local laws of Morocco will allow the company to sell more than 20% of the power that will be generated when the facility is completed.

Although a large Bitcoin mining farm is to be built in Morocco, the African country is among the few who have formally outlawed cryptocurrency payments.

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