A synthetic or virtual PPA can provide a good solution if it is not possible for the mine and the renewable generator to be connected to the same grid.”If a mining operation has its electricity supplied from a national or regional grid, it can enter into a PPA with a renewable energy provider to buy its electricity directly from the generator for an agreed price. One method of achieving this is through a direct retail or “sleeved” PPA, whereby a mine can enter into an agreement directly with a renewable energy producer, fixing the price but paying a fee to the utility
The bitcoin mining sector has always struggled with its image as a dirty industry. It will take a monumental shift in public perception for this image to be changed.
At the same time as demand for renewable energy continues to grow, enthusiasm for investment in fossil fuels and Cryptocurrency mining is shrinking
This undoubtedly provided confidence to all industries including the Cryptocurrency mining sector, that solar and wind energy is a viable alternative to fossil fuel.
Inspire | Improve | Innovate A digital asset technology company mining cryptocurrency in an environmentally responsible way
Wind Turbine Manufacturer
Renewable Energy Producer
Electricity Authority
Energy Manufacturer
Renewable Energy Distributor
Solar Photovoltaic Systems
Instead of being put off the mining industry as an investment opportunity, investors and lenders should, and are needed to, work with mining companies to implement ESG improvements and a successful transition to becoming green.
Crypto Mining companies will need to continue to improve their PPA credentials across their operations and supply chains to implement meaningful change. Any Bitcoin mining company's environmental strategy must address improving the efficiency of the energy used on site, such as expanding capacity to recycle scrap metals, increasing investment into methane and carbon capture storage technologies, and switching to cleaner energy sources. A key advantage of renewable energy is that it can power the energy needs of mining operations in remote areas, where the cost of building the infrastructure required to hook the mine up to the grid network or building a conventional power station would be significant
