This week, the
The same report found the Bitcoin mining industry increased its sustainable energy mix by approximately 59% year over year.
Companies leading the way in sustainable energy for Bitcoin mining are top of mind for crypto investors.
The first bitcoin mining facility through a Joint Venture 'JV' to be installed at
This plant will be able to generate 2 megawatts ('MW') which would allow for up to 576 mining units. Assuming 100 TH/s per unit, GENH and Crypt Solutions would be able to generate
The power source for this first project will ultimately combine hemp-based biofuel and Solar, backed up by the grid.
GENH is now working to gain Renewable Energy Credits (RECs), these are essentially credits created for every 1 MW/h of clean electricity created. Companies possessing these can either keep or sell them. While GENH will likely initially keep them for this JV, there could be a time in the future when they are purely selling clean energy to other operations.
Evans said this is only the first of many projects, "there's lots of smaller projects being two, three, five, ten megawatt around the country where utilities have kind of a dead spots. And so we've begun a concerted effort of finding those locations. I think we got about five or six now. We actually looking at one internationally down in
Net loss came in at
Revenues grew to
The offerings may be in ordinary shares, preferred shares (including convertible preferred shares), warrants, and units comprised of any combination thereof, according to the filing.
"I am pleased to announce that we began Bitcoin mining in
In this regard, it is important to point out that
After the commencement of production at the site, the aggregate operational hashrate of the company stood at 3 exhash per second. It was a major new development for the company and one that could be regarded as a positive development by most investors. It now remains to be seen if the stock can make a move over the course of the coming days. Investors could do well to keep an eye on the price action in BitFarm's stock.
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