Plouton Mining, California, will build North America’s largest bitcoin mining plant, the company confirmed in a June 25 press release.
Plouton, which is a subsidiary of Plouton Group Holding, says the area in west Mojave will have about 49 acres of solar panels that generate 10-13 megawatts of electricity daily.
The site was chosen because of the high annual amount of sunlight, which averages 70%, while the company plans to enter into agreements with local utilities providers to ensure low cost for the rest of the year.
“The prime combination of nature and technology will lead to the next stage of the development of bitcoin mining, fulfilling the promise of Bitcoin as a viable and decentralized trading network,” commented Ramak J. Sedigh, chief operating officer.
“We are very pleased to offer people the opportunity to take part in the growing Bitchin blockchain economy without having to buy mining equipment themselves.”
As Cointelegraph said, the rise in the price of bitcoin (BTC) has led to a resurgence of both mining profitability and decentralization as smaller participants gain easier access to the market.
At the same time, the period since last November has seen significant upheavals among traditional heavyweights such as Bitmain, which have adopted various staff cuts and closures to prevent financial losses.
Canada’s Hut 8, one of the largest crypto mining companies, posted May 2018 losses of $ 140 million.
In the long run, arguing that it is harmful to the environment, bitcoin mining has meanwhile gotten better publicized in recent years, after a study revealed that more than 70% of its activity is already using renewable energy.