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Report: Bitcoin Mining Project Initiates Construction of Hydro-Powered Facility in Nigeria

Report: Bitcoin Mining Project Initiates Construction of Hydro-Powered Facility in Nigeria

A Nigerian startup named Trojan Mining is constructing a hydro-powered facility dedicated to bitcoin (BTC) mining in the African country, according to a recent report. Over the weekend, Trojan unveiled the creation of its mining container, locally produced and designed for a 500-kilowatt (KW) bitcoin mining site.

Startup Embarks on Hydro-Powered Bitcoin Mining Facility Project in Nigeria

A recent Forbes report by Abubakar Nur Khalil highlights that an African startup, Trojan Mining, is actively engaged in setting up a 500 KW bitcoin (BTC) mining facility. This past weekend, the team showcased their locally-built mining container, designed to accommodate 150 application-specific integrated circuit (ASIC) bitcoin mining units.

“Trojan Mining’s plan is to become the leading bitcoin mining farm in Nigeria,” stated the company’s CEO, Yassar Siyanbola.

The momentum for bitcoin mining in Africa is building, especially in remote areas where power availability is scarce. Despite ambiguous regulatory frameworks, African crypto miners are leveraging this technology to facilitate affordable and consistent electricity in rural zones.

Last year, Gridless, a Kenya-based bitcoin (BTC) mining firm, secured $2 million in funding from Jack Dorsey’s Block and Stillmark. Siyanbola acknowledged receiving guidance from Rhodium Enterprises’ Marshall Long and Gridless.

Siyanbola and Trojan started with less than a dozen Innosilicon miners and a single Antminer S9 unit with a combined hashrate of 296 terahash per second (TH/s) dedicated toward the Bitcoin network.

The report notes that Trojan has another site planned that aims to be a 1-megawatt (MW) facility with help from partners. The startup’s website further discloses that Trojan also offers mining rig repair and bitcoin mining setup services.

Trojan’s website outlines the team’s strategy revolves around establishing a mini-hydro plant within five years or sooner. This will render the farm entirely carbon-neutral and independent of the country’s power grid, Trojan details.

What do you think about Trojan crafting a hydro-powered bitcoin mine in Nigeria? Share your thoughts and opinions about this subject in the comments section below.



from Bitcoin News https://ift.tt/9XjKMaU
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