NSW’s Hunter Valley region is where wine is embedded into the culture, and now it may be transforming into a cryptocurrency mining hub, too.
Australia’s Hunter Energy and publicly traded IOT Group have inked a partnership to develop a blockchain center at the dormant Redbank power facility, which is located a couple of hours outside of Sydney and which Hunter is working toward recommissioning.
IOT Group has been given the green light to build a Blockchain Applications Complex (BAC) across 2 hectares located behind a power grid, connecting directly to a power station. In true decentralized fashion, it cuts out third-party providers at the retailing level as well as for transmission and connectivity services. As a result, the tenants of the BAC would see their energy bill slashed dramatically versus what households and other businesses pay.
“The average consumer pays around 28 cents per kilowatt-hour, with what IOT are doing its pre-grid [price] is 8 cents and will be 5 cents at night time,” according to IOT.
The power plant was designed as a coal-fired power site with a capacity of 150 megawatts back near the turn of the century, but it’s been offline for the past four years. Hunter wants to switch it over to solar power, reports indicate. Reports also suggest that BAC power consumption could be between 10mw and 20wm.
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://finance.yahoo.com/news/aussie-silicon-valley-hunter-energy-120909198.html
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit