Two Blockchain based companies are going to start mining business in a disused coal mine. The business worth 109 mln USD belongs to startup IoT Blockchain and the distributor of the hardware for mining Royalti Blockchain Group. The mining complex will be built in the disuses power station, and the deal has been already confirmed on the 7th of May.
The companies are going to turn the disuses power station in a blockchain complex, and the energy for mining they hope to get for a reduced price from the nearby Hunter Energy Power Station. If the plans will come true, Australia will have a mining facility that takes about 2 hectares area.
The projects of such kind are growing in number, though, they are accepted not everywhere. For example, in the USA and Canada, the government is very unwilling to support such kind of projects, as they don’t have significant economic value.
Australian project is though making the best efforts to ensure that it will have sufficient energy for the next five years at least. The contracts for the energy supply are signed right now, and the future suppliers are located around 120 km from Sydney.