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Sangha Systems plans to transition to renewable energy for its crypto mining activities.
- The company plans to deploy a solar system with a capacity between 2-5MW.
- There have been recent concerns about the energy demands of crypto mining and its role in enabling coal generation.
An 82MW cryptocurrency mining facility in Illinois, USA, Sangha Systems, plans to transition to renewable energy for its crypto mining activities. The company stated that it had signed a letter of intent (LoI) with AEP OnSite Partners to deploy a behind-the-meter solar power array with a capacity of between 2 MW and 5 MW.
The company will also utilise blockchain-controlled sensor technology to monitor its energy use. Sangha Systems developed the crypto mining site at a former steel mill in Hennepin in 2018. According to Spencer Marr, president and co-founder of Sangha Systems, the company has worked for three years to build a track record of excellence and establish the business profile that would enable it to get a solar deal done in Hennepin. “As market analysts and the general public have recently woken up to the energy consumption of mining and the possibility of turning all that demand for electricity into clean energy, we think our thesis has been validated. But, this is just the start for us,” he added.
Cryptocurrency mining activities have come under fire in recent weeks over the huge energy needed for mining and their role in enabling electricity generation from polluting sources.