Vancouver, B.C.-based solar developer Solar Alliance Energy Inc. yesterday said it is moving forward with plans to create solar-powered cryptocurrency mining facilities, with the first to be built in Illinois.
The company purchased a 165,000 square foot warehouse in Murphysboro, Ill., and signed a memorandum of understanding (MOU) with an unnamed solar panel manufacturer for development of the solar-powered facilities.
Solar Alliance chairman and CEO Jason Bak said in a statement that the acquisition of the warehouse in Murphysboro and the MOU represent the company’s strategic entry into both tenanting and supplying low-cost power to the crypto mining sector.
“The demand from crypto mining operations for reliable, competitively priced power is immense, and we are perfectly positioned to take advantage of that demand,” Bak said.
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According to the Solar Alliance, the Murphysboro mining facility will use grid power in combination with power that will be supplied by a 3-MW solar array.
William Shatner, who agreed last year to help promote solar with the Solar Alliance, said that he is “excited about the potential for solar energy to support the growing cryptocurrency industry.”
He added that crypto mining operations are energy intensive and using solar arrays to power them makes social and economic sense.
“The combination of solar and crypto mining facilities represents meaningful change,” he said.
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