Kenyan Company Mines Bitcoin Using Wasted Energy
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Gridless, a Kenyan bitcoin mining business, has disclosed how it is assisting local communities in cutting electricity costs by mining bitcoin using excess power. The Gridless concept has been lauded because it has the ability to decentralize bitcoin mining while also moving some hash power to Africa. The revenue earned by bitcoin mining is used to reduce or subsidize the cost of power.
Gridless stated in a recent statement that while mini-hydropower plants generating less than 100 KW (kilowatts) have been employed thus far, the company’s goal is to work with larger plants generating 500 KW.