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Author Topic: [2018-02-03] European Power Company Will Not Sell Electricity to Crypto-Miners  (Read 89 times)
Iloveelvis (OP)
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February 04, 2018, 03:19:57 AM
 #1

This week one of Europe’s largest power companies, Enel, has announced the firm has absolutely “no interest whatsoever in selling power” to cryptocurrency miners.

The Italian multinational renewable-energy corporation located in Rome, Enel, made a statement on Thursday that explains it will not sell power to data centers who plan to mine cryptocurrencies. According to the financial publication Bloomberg the company was allegedly discussing a deal with a Switzerland-based cryptocurrency business called Envion AG. The news outlet stated that “according to people with direct knowledge of the matter” Enel was evaluating the market to sell power to bitcoin and other digital asset miners. Further, a company executive also commented on the mining evaluation story.

read more >>>  https://news.bitcoin.com/large-european-power-company-will-not-sell-electricity-to-crypto-miners/
CryptoBry
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February 04, 2018, 05:24:49 AM
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I am one of the many supporters of Envion and this is bad news to the project though of course am sure there will be other power producers which can be interested to work with Envion. Maybe what we need is to have a big power project that will sell exclusively to the cryptocurrency mining industry -- this way we will never be under the mercy of the traditional producers who might be afraid to take a crypto project as one of their many customers. I am hoping there will be a good ICO with reputable leadership which will lead a big green power project like this.
Vektrum
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February 04, 2018, 07:19:35 AM
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If it is an ordinary commercial company, it should be vseravno to whom to sell its electricity, especially since the extraction of bitcoins and other crypto-currencies is not a harmful production. It seems to me that once such a statement has been made, this company is somehow interested in not selling its energy to farms that produce crypto-currency.
J. Cooper
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February 04, 2018, 09:43:57 AM
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I swiftly read trough the article in the hope of finding a reasoning behind Enel backing out. And you could've guessed it, it's an environmental one. According to Enel cryptocurrency can't be maintained in a environmental friendly way and that's why they won't do business with them. That's an extremely unfair assessment. I'm sure Enel is selling electricity at an enormous scale to big companies that are responsible for a lot of environmental pollution.

I am hoping there will be a good ICO with reputable leadership which will lead a big green power project like this.

That would be interesting to see.
richardsNY
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February 04, 2018, 10:56:09 PM
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Classic mainstream media propaganda -- they make it seem like the mighty Enel is the only player in the market, where now crypto miners have no way of entering Europe anymore.... If you want to make yourself credible as writer and journalist, at least mention how the power market is literally infested with power resellers and other main competitors of Enel. It's probably the government forcing them to follow this route, or a few nitpicking shareholders thinking that they don't want to be associated with criminals and whatnot. Either way, miners won't have a problem finding other power sellers willing to cooperate with them -- it's making money that counts, and not complying with environmental bla bla goals.
aigeezer
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February 05, 2018, 02:38:58 AM
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Strange logic indeed. Consider - "renewable-energy corporation" won't sell its (renewable?) energy to someone it thinks is a polluter, leaving them to buy energy from other (non-renewable?) sources, thus increasing pollution.

I assume it's posturing for the predictable media effect. Same old.

 
emuLOAD
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February 05, 2018, 07:54:38 PM
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Who the hell would want to do business with Enel. Italy has the track record of rabid dog in terms of reliability, let alone the absurdity of buying energy from a company that's not even been capable of supplying its own country of orgin (Italy has insane energy costs due to not being enrgy independent).
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