Are you traveling halfway around the world to save on electricity costs for cryptocurrency mining soon? This company listed on the Nasdaq indicates that it owns a technology that would make miners happy. In fact, she bought a mining company for around 20 million dollars.
Technology for less energy-consuming mining
The society Cleanspark Inc. listed on Nasdaq and based in Nevada, announced on December 10, 2020, the acquisition of the mining company ATL Data Centers for $ 19.4 million.
According to the details of the agreement, the settlement will be made in full in shares.
Cleanspark specializes in energy micro-grid software. He said the use of this technology will save energy, increase the total power generation capacity and reduce greenhouse gas emissions.
The company wants to quadruple the number of devices ASIC operating by adding 30 megawatts of additional electricity to the facilityATL by April 2021.
ATL currently has 3,471 mining units for a hashrate rated at 190 PH / s. The installation of new devices could increase the mining capacity by up to 0.9 to 1.4 PE / s.
Cleanspark cleans the electricity bill of mining companies
Cleanspark wants to demonstrate that the use of its technology reduces the cost of electricity to less than $ 0.0285 per kw / h.
In the longer term, the company will have a functionality that will allow real-time observation on the web of the energy and money savings achieved.
CEO of Cleanspark, Zachary Bradford, explained that his company had identified energy-intensive companies at risk of resilience from high energy costs.
Bradford explained that their experiences in the mining industry have enabled them to understand the importance of sound energy management for the success and profitability of a business in the sector.
Environmentalists do not appreciate mining because of its energy-intensive nature, this problem could however be at the origin of a technology which would allow to reduce the consumption of electricity and the emission of greenhouse gases, while increasing energy production. It just goes to show that the pursuit of profitability does not necessarily conflict with ecological interests. By buying ATL Data Centers, Cleanspark will not only be able to mine cryptos and profit from their growth, but it has also bought itself credibility as to the performance of its technology in reducing the cost of electricity, even before ‘she has really proven herself.
Litecoin, welcome in the Silver Age