Recently, a blockchain tech company has announced its new service, Blockstream Energy, which aims to bring much-needed “green” into the crypto space. This new service provides scalable energy demand to energy producers using Bitcoin’s proof of work (PoW).
Blockstream Energy will use self-contained and remotely operated mining facilities called modular mining units (MMUs). This procedure would provide energy producers an opportunity to get the most out of their energy production and even sell excess electricity.
Changing the game with MMU
The company’s plug-and-play MMUs can be easily equipped in energy production facilities and can seamlessly scale energy demand.
One more advantage of MMU is that it can perform many functions such as balancing electric grids, improving carbon trading strategies, and optimizing energy utilization. Its ISO certification also makes it easy to ship around the world because of its proven compliance with global standards.
“This incredibly powerful tool can be used to make existing electrical grids far more efficient while also significantly improving the economics of renewable energy projects,” Chris Cook, Chief Information Officer and head of mining at Blockstream, said.
Satellite network
Another innovation that MMU provides is that it can be controlled anywhere in the world through Blockstream’s advanced satellite network. Through this innovation, owners can still operate their MMUs in remote places.
“Much of the world’s usable renewable sources are concentrated in remote locations where there is little local demand and not much surrounding infrastructure,” Adam Back, Chief Executive Officer of Blockstream, said.
Aside from the said initiatives, Blockstream will drive its green ambitions even further by developing more alternative energy solutions. The company said that it will partner with Jack Dorsey’s Square to set up a $5 million solar mine to create more renewable sources of energy for the world.
Image courtesy of Cointelegraph News/YouTube
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