Bitcoin to Support Reliable Energy Infrastructure in Rural Areas of Africa
According to careful statistics around 500 million people hailing from Africa live in rural areas. Life outside of the city means that they face issues with the local power grid and sometimes do not have access to electricity at all.
Under such circumstances, access to the internet and familiarity with the latest financial technologies such as Bitcoin remains a rare occurrence. Keeping in view these issues, the Bitcoin community has decided to offer some creative solutions.
These innovations are directed toward promoting the trend of Bitcoin mining in rural African communities. It will bring greater financial inclusion and earning potential for the locals.
At the same time, the Bitcoin community is also working on bringing energy generation solutions that ensure more electricity on the grid for these localities. One such solution is putting together funds and infrastructure for microgrids.
Bitcoin Community Members are Investing in Renewable Energy Projects in Africa
Bitcoin and cryptocurrency community members have always searched for ideal mining grounds for disruptive technology. To this end, the conductive grounds of rural Africa offer the perfect growth environment.
On account of various aspects, Bitcoin enthusiasts and commercial entities are showing an interest in investing in green energy projects in various rural localities of Africa.
Abubakar Nur Khalil is the CEO of a Nigerian Bitcoin venture named Recursive Capital. He recently shared the latest updates about the Bitcoin and green energy-related innovations and development taking place in his native land.
He shed some light on the Bitcoin mining company called Gridless hailing from Kenya. This mining farm makes use of power grids generating energy from hydroelectric energy. The project managed to get funding from Block and Bitcoin venture capital Stillmark.
There are also some other noteworthy Bitcoin mining projects in Africa such as Trojan Mining, QRB Labs, and Sukuma hailing from Nigeria, Ethiopia, and Kenya. Many Bitcoin mining projects are working in tandem with the Green Africa Mining Alliance or GAMA.
The alliance published a new report on its progress in May citing the work it has done to fill the gap in local electricity requirements and make use of excess energy resources that are normally wasted.
Regardless of the regulatory clarity on the matter, GAMA has reported a 5 times increase in the year-on-year productivity of these green mining projects. Non-tech enterprises such as Virunga National Park are reportedly powering their Bitcoin mining farms using hydroelectric generators.
The state body has managed to collect funding for supporting its operations and curb the long-persisting issues such as frequent lockdowns, the spread of diseases, deforestation, and violence among others.
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