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Africans Are Pioneering The Bright, Yet Complicated, Green Future Of Bitcoin Mining
Abubakar Nur Khalil
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Nigerian Bitcoiner and CEO of Recursive Capital and Btrust
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May 24, 2023,03:41pm EDT
Updated May 31, 2023, 02:24pm EDT
Workers install solar panels at the Karoo Fresh [+]Produce (Pty) Ltd. farm in Groenfontein, South Africa, on Wednesday, Aug. 24, 2022. Photographer: Guillem Sartorio/Bloomberg
© 2022 BLOOMBERG FINANCE LP
Sometimes, starting fresh with custom solutions can be far more efficient than patching and updating older systems. That's why Africa's underdeveloped electrical infrastructure offers a lucrative opportunity for bitcoin miners using renewable energy and off-grid technologies.
Bitcoin mining—the process that appends transactions to the bitcoin blockchain and secures the overall network—can offer a way to scale energy storage and demand in lockstep with growing communities. In short, it's easy to turn bitcoin mining hardware on and off to suit demand.