Bitcoin Mining with Renewable Energy: Vespene Energy

Vespene Energy aims to find a solution to the high energy consumption of Bitcoin mining, which is the subject of the greatest criticism, by converting methane gas obtained from landfills into electricity. This energy power, which can be wasted in landfills and similar areas, can be used in Bitcoin mining thanks to Vespene Energy.

Funding of the Project

Berkeley/California-based Vespene Energy company, During the investment process carried out by Polychain Capital and other climate-oriented funding sources, it raised an investment of 4.3 million USD. This situation reveals that the use of alternative resources for Bitcoin mining is a topic of agenda all over the world. We can say that Vespene Energy’s project to supply the electrical energy required for mining over methane gas has been met with interest by everyone in the crypto world.

Details of the Project

According to the company’s statement, methane gas will be converted into electrical energy to be transferred to data centers where Bitcoin mining is carried out by installing highly efficient micro tribunes in municipal landfills. This makes methane gas, which would otherwise be wasted, functional and also opens the door to the use of renewable energy in the crypto sector. Adam Wright, co-founder and CEO of Vespene Energy, stated in a statement that their goal is to reduce a major source of greenhouse gas emissions. In addition, Wright emphasized that they believe that using Bitcoin mining will accelerate the transition to renewable energy so that stored methane gas can be converted into a source of income for their customers.

vespene energy logo
Vespene Energy

In a way, Vespene Energy offers landfill land owners the opportunity to turn methane gas, which has a negative impact on the environment, into a potential source of income. In return, Vespene gets a cheap and renewable energy source for its Bitcoin mining centers. Simply put, Vespene Energy is killing two birds with one stone, while reducing harmful greenhouse gas emissions and helping transition to a carbon-neutral energy source for Bitcoin mining. Finally, it should be noted that Vespene Energy will meet all legal requirements in the stands it will install in landfills. Eventually, the methane gas that will be wasted becomes something that can be used for Bitcoin mining. While methane gas emissions are being reduced, a contribution is being made to sustainable and renewable energy for our planet through Bitcoin mining around an environmentally sensitive understanding.

Pilot Application: California

It is planned to start a pilot application in their own field in California with the financial resources obtained as a result of the funding mentioned above. Vespene Energy aims to be the first company to convert methane gas in landfills and landfills into electrical energy for Bitcoin mining. It will take about four to six months to install a Vespene module. Vespene states that each module will have a power capacity of approximately 1.5 megawatts (MW) and eliminate the equivalent of 270,000 metric tons of CO2 per year.

Benefits of the Project to Land Owners

The business model developed by Vespene Enerji also allows landfill owners to participate in a profit-sharing agreement with a predetermined floor and ceiling. By allowing the company to build its facility, landfill owners have the opportunity to earn a certain amount of income through a profit-sharing arrangement during a Bitcoin bull run.

Summary

To summarize, it is known to all of us that the high electrical energy consumption of Bitcoin mining, which has been criticized by many environmental activists and lawyers in recent years, has become the agenda in the entire crypto world. In order to produce an alternative for the electricity required in Bitcoin mining, Vespene Energy has developed a project that aims to convert methane gas obtained from landfills and landfills into electrical energy and use it in its own Bitcoin mining facilities. After a successful investment process, the first pilot application will start in California. Considering that such a model has never been tried before, there is no doubt that the fact that the inert methane gas can be used for Bitcoin mining will make a noise in the crypto world.

References

  • https://vespene .energy/
  • https://coindesk.com

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