Mining bitcoin with solar power
Plouton Mining (based in LA), will be North America’s largest solar-powered bitcoin mining facility. Based on 50 acres in Western Mojave, CA, they will implement new sustainable mining practices via solar panels that will allow the industry to continue to grow, while also providing ordinary investors with the opportunity to participate in the process of mining via a security token. The way Plouton Mining will contract with local utility providers will allow for ultra-cheap operating costs when the sun goes down. This will benefit both the project and the utility companies themselves. Because utility companies sell the bulk of their energy during peak hours when demand is highest, they are left with an excess supply during much of the nighttime hours when demand is much lower. Plouton’s next-generation ASIC miners will operate with maximum efficiency, both day and night.
Ethan met with Ramak in Plouton’s West Hollywood WeWork office space for a face to face discussion all about the bitcoin ecosystem. The past, present, and future of bitcoin, a look into ASIC miners, harvesting the sun’s power for mining rigs, and the dark side of Facebook’s Libra coin are all part of this episode.