Soluna builds a 37,000-acre wind farm to meet the energy needs of blockchain networks around the world

Soluna, a blockchain company in Dakhla, Morocco, is building a 37,000-acre wind farm in Western Sahara to provide 900 megawatts of power to the data center to meet the energy needs of blockchain networks around the world. The wind farm is one of the windiest areas in the world.

Soluna CEO John Belizaire told Reuters in a recent interview that construction of the power plant will begin in 2019 and is expected to be completed within five years. It is reported that the completion of the facility will cost US$1.4 billion to US$2.5 billion. Wind farms may also be connected to Morocco’s national grid.

Morocco has attracted investments in solar and wind energy as part of its goal to generate 52% of electricity from renewable sources. Soluna told the Moroccan government that it will invest 100 million US dollars in the initial stage, hoping to generate 36 megawatts of electricity.

The blockchain computer center needs a lot of electricity to process these numbers, but Belizaire told Reuters that Soluna will not conduct cryptocurrency transactions in Morocco because of warnings from local officials about the use of this currency. Instead, it will support the blockchain network by providing computing power to foreign companies in exchange for foreign exchange.

Soluna is a portfolio company of Brookstone Partners, a private equity firm based in New York, and may also seek large institutional investors in the future to help fund desert wind farm projects.

Bitcoin was mined by computers to help process the unbreakable digital transaction records that underpin the currency. In cooler climates such as Iceland, Canada, northern China, and Russia, large machines have produced huge computing power and electricity in a warehouse the size of a hangar. In these places, the cost of dispersing heat is lower.

Digiconomist, a digital currency analysis platform, estimated in June that Bitcoin mining uses approximately 71 terawatt hours per year-equivalent to nearly 10% of China's annual energy use.

Morocco annexed the former Spanish colony of Western Sahara in 1975, and the territory has been the subject of disputes between it and the Frente POLISARIO ever since. The Polisario Front is an independent movement supported by neighboring Algeria.

Soluna was founded in 2018, and its mission is to provide clean, low-cost renewable energy for the blockchain economy through the world's first vertically integrated blockchain computing company that owns and controls dedicated renewable energy.

Soluna's approach is to combine a utility-scale renewable power plant operating in a wind farm in Morocco with high-capacity computing facilities to support and promote the next generation of breakthroughs in the blockchain.

Although wholesale energy is the focus of many companies, a research report called "Energy Industry Chain in 2018" stated that 59% of energy industry chain projects focus on building peer-to-peer networks. This concept is to facilitate transactions and purchase excess energy between individuals and entities in a distributed network without control or centralized power. As more and more countries reach energy parity, the cost of renewable energy has become equal to or lower than traditional retail. Individuals who produce domestically will have the ability to trade it to their neighbors and colleagues.

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