Bitcoin mining brings more than money to this East African country

[ad_1]

A bitcoin (BTC) mining project that taps into clean, locked and surplus hydroelectric power in Malawi has gained momentum. The company behind the project, Gridless, says there are now 1,600 families connected to this isolated hydro mini-grid in the mountains of southern Malawi.

1,600 families connected to this isolated hydroelectric mini-grid in the mountains of southern Malawi. They have 50kW of locked power which we are testing as a new bitcoin mining site.

Videos for context.

I’m still working on the ventilation, wiring, etc. pic.twitter.com/Sxf8ABGPWH

— Gridless (@GridlessCompute) January 21, 2023

The project is harnessing 50 kilowatts (kW) of locked-in power to test as a new Bitcoin mining site. Erik Hersman, CEO and co-founder of Gridless, told Cointelegraph that although this is a brand new mining project, the impact was felt immediately.

The electricity developer had built these plants a few years ago, but they were unable to expand to more families as they were barely profitable and could not afford to buy more meters for connect more families. Our agreement therefore allowed them to immediately purchase 200 additional meters to connect more families.

Bitcoin miners are flexible but power-hungry customers. It is a plug-and-play solution for excess energy sources worldwide. In Malawi, miners use environmentally friendly hydroelectricity.

The facility runs on hydroelectricity. Source: Herman

In the words of Hersman:

The environmental footprint is quite light as it drains from a river. And bitcoin mining hasn’t changed that.

Its second Gridless project in sub-Saharan Africa to date. Late last year, a mining project in Kenya connected a remote community using excess hydropower.

Street vendors in Malawi. Source: Herman

Environment aside, Bitcoin mining brings economic empowerment and job opportunities to Malawi. Hersman explained that power shedding is common in Malawi, but the 1,600 families using the hydroelectric source have no electricity problems:

It’s always amazing to me how useful and valuable mini-grids are to the community. He [Bitcoin mining] immediately changes the education, health care, business, logistics and wealth of the community they go to.

Obi Nwosu, CEO of Fedimint and Advisor to the Board of Gridless, also shed some light on the story, explaining that the project in “Malawi is one more in line with what I expect to be from many examples over the next few years”.

As usual, these are humble people who roll up their sleeves and help talented local engineers do what they do best. The project brings power as well as financial and economic freedom to many.

Bitcoin miners tapping into stranded energy while empowering local communities is a growing trend in 2023. From El Salvador’s promise of geothermal Bitcoin mining to balancing network load and maintaining jobs for local communities in Canada, there is a torrent of opportunities that arise, says Nwosu.

Related:Seven Times Bitcoin Miners Made the World a Better Place

Michael Saylor has described Bitcoin mining as the perfect high-tech industry to put into a nation that has lots of clean energy but isn’t able to export a product or produce a service with that energy. . This is an accurate summary of the project in Malawi.

Canal channeling water in Malawi. Source: Herman

Ultimately, this kind of bitcoin mining projects are more like a partnership. Hersman sums it up: we work with the power producer, and they strive to keep the price of electricity affordable and all of their employees are also from the community, providing jobs for everything from security to linemen and operations.

[ad_2]