Gridless designs, builds and operates bitcoin mines together with small renewable energy producers in rural areas of Africa where excess energy is not harnessed. In its first year, Gridless has hired five pilot projects in rural Kenya with HydroBox, an African hydroelectric power company, three of which are currently operational. Gridless’ partnership with HydroBox provides the power producer with 24-hour electricity to make power generation viable.
“Africa needs affordable electricity. Our work supporting renewable energy mini-grid developers fills a gap, helping developers scale faster, become more sustainable, and serve thousands of homes. This investment and the high caliber of the partners that accompany us means that we can accelerate our deployment knowing that we have both the necessary capital and strategic support”, has pointed out erik hersmanCEO of Gridless, which plans to expand to other East African geographies in the future.
“While bitcoin mining has been dominant in North America, Europe and Asia, Africa presents a great opportunity to further diversify mining around the world, helping to better secure the network,” Hersman explained. The renewable energies. This presents a excellent profit potential for both power generators and minersas well as the ability to have a real positive impact in the communities where it is used.”
For his part, Alyse Killeen, Managing Partner of Stillmark, stated that the firm is focused “on investing in companies that are helping to advance the Bitcoin ecosystem in ways that offer sustainable value and solutions for many.” “Gridless does this by bringing a socially and environmentally conscious approach to bitcoin mining, which provides tangible benefits through access to electricity for communities in rural East Africa“, has added.
From Block, the director of bitcoin mining and wallets, Thomas Templeton, has indicated that the firm “is very focused on helping to accelerate the global renewable hashrate.” “Gridless represents a close strategic alignment with our vision of ensuring that the bitcoin network increasingly leverages clean energy, in combination with bitcoin computing centers around the world. This work can support positive community externalities while helps secure the distributed infrastructure behind the bitcoin monetary ecosystem”, he has sentenced.
Source: Ambito
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