"Russia to build crypto mining hub in Africa." - The new facility could reportedly turn Ethiopia into a global mining center. ~ RT World News

posted 336 days ago by Nightcereus 336 days ago by Nightcereus +29 / -0

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Russian supplier of Bitcoin mining solutions BitСluster is building a 120-megawatt (MW) data center in Ethiopia, the company has announced on its website.

According to a press release issued on Thursday, the facility will be located in the capital city of Addis Ababa, on the territory of the Kilinto high-voltage substation, and will comprise 30,000 square meters.

The commissioning of the new data center will take place in January 2024, BitСluster said, noting that transformers are currently being connected.

The report highlighted that the engineering and technical conditions of the data center meet the requirements of the most modern mining devices.

“100% of the data center’s electricity comes from renewable energy sources, specifically from the Grand Ethiopian Renaissance Dam, the largest hydropower project in Africa, with a capacity of 5.15 GW,” the press release reads.

The new energy infrastructure of the Kilinto high-voltage substation will reportedly ensure “uninterrupted power supply to the facility with the expected uptime 99%.”

BitCluster pointed out that the scale of the project allows it to be a full-cycle service center, thereby saving time and money on fixing faulty devices in-house, which makes mining more efficient.

“Ethiopia, with its hydropower potential, will undoubtedly become a new place of attraction for global mining,” co-founder of BitCluster Sergey Arestov projected.

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https://www.rt.com/africa/589461-russia-crypto-mining-center-ethiopia/

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– GodzillaTrump 1 point 335 days ago +1 / -0

Theres still plenty of proof of work chains and the idea that theyre energy hogs is kind of misleading. Yes they consume more energy than proof of stake chains but use a fraction of the energy that the current banking system uses. On top of that most of the miners are now using renewable energy or energy that would otherwise be wasted like geothermal or natural gas that is currently being flared off.

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– SBDAmerican 1 point 335 days ago +1 / -0

I agree with your basic points, but energy use with PoW guess up progressively as it matures. I personally know people who were involved with Bitcoin mining. Entire floors of cheap office space, upgraded a/c to keep it all cool, energy use that constantly goes up with higher and higher cost, and even selling mining equipment to others eventually could not maintain a profitable status. It's all gone now. Made a ton at the start, however.

Yeah mining has come a long way since those days though. Better miners, cheaper energy…i agree proof of work is more costly and uses more energy its just not as bad as people claim