Concerns about the huge energy usage by mining operations have continued to be a major talking point. A large percentage of the world’s energy supply is being consumed by many mining operations going on all over the world. A record high energy consumption of 0.12% of the world’s energy supply by Bitcoin mining was recorded in 2017 alone, Ethereum on the hand accounted for 0.05%. This number may have gone down after the boom witnessed last year subsided, many people may have sold their mining rigs since it’s no longer as profitable but also others who weren’t opportune to join the boom last year may have seen this year’s decrease in the price of mining equipment as a perfect opportunity. In summary, energy consumption by cryptocurrency mining may have reduced, stayed the same or may have even gone up compared to last year.
Mining rigs constantly require electricity supply for powering and cooling down the machines, due to this huge electricity requirement, mining operations are majorly carried out in countries with low environmental standards and less authoritarian about cryptocurrency. Irrespective of the location, mining operations contribute to the increased global carbon emissions which is a major culprit in climate change. This and other environmental problems resulting from mining operations has made it necessary for an eco-friendly alternative for electricity generation for mining operations.
The SAM Alternative
Swiss Alps Mining and Energy AG, a Switzerland based company has decided to combat this environmental menace by providing an eco-friendly alternative mining centres in the Swiss Alps by utilising unused and abandoned structure in the area. Swiss Alps Mining and Energy (SAE) will be able to provide a cheaper energy and environmental friendly mining operations in the Alpines by generating electricity from renewable energy sources. This will be achieved by using mining stones that are exclusively supported by renewable energy and Organic Rankine Cycle (ORC) recovery from waste heat from mining equipment.
The working principle and technological solution for cryptocurrency mining in the Swiss Alps by SAE are based on the following;
- SAM Powerplants: SAE will utilize power plants such as hydro power plants, photovoltaic systems to provide a sustainable and cost friendly power to SAM cubes. The next stage will see SAE decentralise and digitise energy transmission in Swiss Alps through tokenization and integrated IoT. Home owners will be able to purchase electricity from the SAM power plants or exchange their excess electricity for SAM tokens.
- SAM Cubes: this is a cutting edge automation approach to cryptocurrency mining. The SAM Cubes are flexible and modular in nature making them easy to be assembled and disassembled with so much ease and they require little maintenance. Energy in the form of waste heat from the SAM Cubes will be recoverable and reused through the use of Organic Ranking Cycle (ORC)
- SAM Smart Mining: in order to stay profitable, a set of algorithms will be employed which will be able to calculate the most profitable coins to mine. This will reduce the time miners would have spent mining unprofitable coins instead they will be able to channel their resources into mining these profitable coins.
- SAM Centres will be located in every alpine where SAE will have its operation and they will house the SAM Cubes. They will add to the revenue of the host community and contribute to the protection of cultural assets in these areas.
- SAM Blockchain: in order to offer customers flexibility of assembling their desired technology stack in the shortest time possible, SAE will create a platform as a service (SAM PaaS) to meet these needed.
Tokenized Mining
The SAM token an ERC 20 Standard token has been created specifically to fuel the SAE ecosystem. The SAM token will enable payment for services on the SAE ecosystem, purchase of electricity and SAM Cubes.
Wrap up: With the occasional threat of countries banning cryptocurrency mining due to environmental concerns, it’s refreshing to see a project geared towards providing and eco-friendly, efficient and profitable mining operation. Existing and yet to begin miners will have a lot to benefit from the aforementioned SAE mining solutions, SAE will make sure mining is profitable by providing the necessary the tools.
For further Information
Website: https://tokensale.swissalpsmining.io/
Whitepaper: https://swissalpsmining.io/pdf/whitepaper.pdf
Telegram: http://t.me/swissalpsminingICO
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