Bitcoin mining in Kenya will help reduce electricity tariffs for the population – Bits Media

Gridless Compute has launched a mining farm in rural areas in Kenya - using an excess of energy from a local hydroelectric power station made it possible to reduce tariffs for the population.

Representatives of the company reported, that thanks to the use of energy for Bitcoin mining managed to reduce electricity tariffs for 2 000 residents of rural areas. On average, If earlier residents of nearby areas paid for $10 per month for electricity, then after launching the project, payments decreased to $4.

The company received $2 Milln during the recent round of financing. Means will be used to develop mining in Africa. As the General Director of Gridless Eric Khersman emphasized (Erik Hersman), Mining is widespread in America, Europe and Asia, However, mining companies bypass Africa. But the continent gives great opportunities for business diversification.

“There are excellent opportunities for electricity manufacturers and miners. You can not only make a profit, but also bring real benefit to local residents. Africa needs accessible energy. We support the creation of small power plants on renewable sources, This makes it possible to generate energy for thousands of households ", - noted Khersman.

According to Gridless CEO, The process of the self -sufficiency of the power plant is quite long - energy must be sold, And if the population did not have access to energy, then there is simply nothing to consume electricity. You need to wait, While the population will buy TVs, refrigerators and other equipment.

The process is long and all this time the power station does not bring income. And then mining comes to the rescue - you can bring and place equipment quickly enough. The farm loads the power station and brings income. Therefore, building small power plants becomes beneficial. And the population gains access to electricity.

According to the study 2020 of the year, about 50% African population does not have access to electricity. In the middle of this year, it was reported, that the Keny hydropower company Kengen intends to provide excesses of its geothermal energy for the extraction of cryptocurrencies, to make the country the center of the mining industry in Africa.