Bitcoin mining project in Kenya helps power rural community

[_act_]

I was just checking what is going on today about cryptocurrencies and I saw this amazing information about bitcoin mining in Kenya. We know this was annouced many months ago, that bitcoin mining was coming to Kenya, but I am surprised that the productivity that bitcoin gives than take was talked about in Kenya. When some countries ban bitcoin mining, other countries are already accepting bitcoin mining.

See how bitcoin makes energy generation to a rural area in Kenya and how it make the cost lower:

https://cointelegraph.com/news/bitcoin-mining-project-in-kenya-helps-power-rural-community

On Dec. 9, Gridless Compute tweeted photos and commentary on how their hydro-power BTC mining rigs are powering an entire rural settlement while also lowering energy rates for 2,000 people, the equivalent to 500 families. According to the tweet, costs decrease from $10 per month to $4.

I am also surprised that bitcoin is trading at a very low price but making energy production to be posible in a rural area.

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[franky1]

On Dec. 9, Gridless Compute tweeted photos and commentary on how their hydro-power BTC mining rigs are powering an entire rural settlement while also lowering energy rates for 2,000 people, the equivalent to 500 families. According to the tweet, costs decrease from $10 per month to $4.

I am also surprised that bitcoin is trading at a very low price but making energy production to be posible in a rural area.

this should be of no surprise

when large power plants are built. they are not built purely to have capacity for todays demand (2k population) they are built to last for 60 years+ (3 generations of population growth)
families of 2 children mean 2000 become 4000 become 8000 population in 60 years
so the hydro power is a capacity of 8000 population but a demand of only 2000 population at the start
this means 2000 are paying for the costs of a 8000population power costs

instead of waiting 40-60 years for demand to reach capacity so that the costs are split fairly. what the small 2000 population are doing is finding new industries to tap into this spare capacity(buzzword "anchor tenants"*) so they pay for the unused/wasted electric. and so that by having more money paying the power plant. the less people have to pay overal each

plus the bitcoin earned in using that electric is also a good investment for those doing it

https://gridlesscompute.com/2022/12/06/gridless-a-bitcoin-mining-company-in-east-africa-raises-2m-in-funding-led-by-stillmark-and-block-inc/
*

Gridless designs, builds, and operates bitcoin mining sites alongside small-scale renewable energy producers in rural Africa where excess energy is not utilized. Gridless serves as the anchor tenant, financing the construction and managing the operation of data centers in rural communities where traditional industrial or commercial customers are not available.

[Ucy]

So the company is basically going there to earn money, benefit the community and be profitable just as it's done in other part of the world.
Alot of articles like that are written in very cunning ways to make things look like the "messiahs" are going to such communities to save them from poverty, hunger, diseases, war, etc. If you investigate further you will probably discover the company went there to survive and benefit from cheap energy, labour, etc. "Poor" rural communities are typically self-reliant and don't usually ask for help unless there are crisis.


Hope the Bitcoin mining company is profitable (and responsible too) in places like that that do not have the typical cold weather you experience in parts of Europe,  Russia, etc. By the way, this will not cause the so called Climate Change or vaporize the environment... and as you can read they use renewable energy

[lizarder]

I am just checking what is going on today about cryptocurrencies and I saw this amazing information about bitcoin mining in Kenya. We know this was annouced many months ago, that bitcoin mining was coming to Kenya, but I am surprised that the productivity that bitcoin gives than take was talked about in Kenya. When some countries ban bitcoin mining, other countries are already accepting bitcoin mining.

See how bitcoin makes energy generation to a rural area in Kenya and how it make the cost lower:

This is an extraordinary achievement for Bitcoin mining in Kenya, this is the basis that bitcoin mining does not use large electrical energy which can damage the energy sources used in the future, because these resources can be renewed in new ways and available methods from nature. If it is true that companies do this perfectly, then bitcoin has proved another opportunity for its usefulness for many people.

I am also surprised that bitcoin is trading at a very low price but making energy production to be posible in a rural area.

I don't see them trading bitcoins at very low prices, because on the link site that you share, it only discusses the issue of bitcoin miners and the electricity that is given to village settlements, which lowers the energy level of 2,000 people, equivalent to 500 families. But whatever the results of the discussion, this is an extraordinary achievement for bitcoin and its use for rural communities there.

[Odusko]

Hey mate this and many other developments as regards to Bitcoin green energy generation have been the major advantages of the Bitcoin proof of work mining network which requires lots of kilowatts of electricity that has forced many Bitcoin miners to look for an alternative source of power generation to cut cost and also provide cleaner environmental energy.
So this development is one among many others that have sprung up from Bitcoin minners activities energy conversion has been on the increase lately and not on Kenya is benefiting from that some other regions around the world have tapped into the many advantages of green energy for agricultural production and other areas.

[Flexystar]

In simple words, that’s industrialisation. One of the greatest revolution which was seen during 17-1800 throughout the globe and mostly in the western hemisphere.

No wonder when big powers combine together then they could bring such wealth to the locals. I am sure they might have brought nice employment for the locals along with the energy bonuses.

This explains why there is high cost of utility when you live far from the city hubs, in terms of providing services which takes extra cost of logistic, supplies, roads and what not.

When you bring the source of utility right at doorstep then it can lower the cost pretty well.

[Welsh]

this should be of no surprise

The only issue we have is the general opinion of mining, and therefore Bitcoin has become tainted; since the news have made a pretty sustained attack on Bitcoin, due to the amount of energy being used. Obviously, I don't expect these news sources, i.e the more mainstream news, would share this story. Thus, the vast majority continue to have a tainted view on Bitcoin, simply because for the last year or two years we've been subjected to being ridiculed because of Bitcoin using Proof of Work.

So, this technically would be a big surprise to most people outside of Bitcoin. We do need more coverage of things like this though, since it shows the benefits or at least the mitigation of the already overblown energy crisis.

[franky1]

this should be of no surprise

The only issue we have is the general opinion of mining, and therefore Bitcoin has become tainted; since the news have made a pretty sustained attack on Bitcoin, due to the amount of energy being used.

crypto is a big education event requiring explaining alot.. but getting it right first time is the main thing..

i have run the numbers and this test project is actually sustainable

i calculated it out and then seen the numbers based on the project. and it is actually on the right lines
and the numbers work out correct

the issue is the difference between paper calculations. and real life testing and seeing where hidden costs or unforeseen events pop up

once the test can prove itself in reality. then advertise the hell out of it to counter the stupid propaganda of the vegan greenpeace army

jack doresey is involved so im sure he has enough reach to promote it when the time is right.

but pumping out viral media stories before concept is proven in real world is just as bad as the greenpace stupid narrative.. so best to prove a concept, prove them wrong. end the debate

[Vaskiy]

The Bitcoin company benefits directly out of the plan using the excess energy generated. It indirectly helps the common people while paying the electricity bills. Anyhow this is something good to use the unused electricity. Few months back this was into discussion, and I didn't expect a fast progress on the same in short time period. When more countries are banning cryptocurrency mining, there are countries to welcome. This shows the network won't get disturbed, as there'll be someone to pickup when one drops out of mining.

[franky1]

The Bitcoin company benefits directly out of the plan using the excess energy generated.

the example is this

asic company invests $2m in a power plant of 1MW
and puts 600KW (200asics) on it.
the spare 400kw can power 800 homes or 2000 people

because the other situation would have been
2000 people paying build cost of 1MW over the years which would have been 2.5x their cost on average at kw price levels for many many years

now they get to save 2.5x because another industry is upfronting and paying off the excess build cost thus the villagers save on average 2.5x
and the asic company can recoup ROI in just a couple years

[Welsh]

but pumping out viral media stories before concept is proven in real world is just as bad as the greenpace stupid narrative.. so best to prove a concept, prove them wrong. end the debate

I'd agree, although when that time comes I'm not convinced we'll be able to get the mainstream news sources to report on it. At least, not widespread enough. Having someone with money behind them, to push that helps, but ultimately this sort of content isn't going to get the news much clicks, and therefore that reduces their willingness to post something like this.

Whereas, Bitcoin melting the world because of how inefficient it is gets views, because of it's sensationalist head line. Unless, the news go with that route; "Bitcoin SAVES THOUSANDS per year".