Bitcoin mining: electric energy at about $0.01 per kWh in Louisiana

Gryphon Digital Mining, a Bitcoin Mining firm, introduced that it has entered into an settlement in Louisiana to amass electrical energy at a price of roughly 0.01 {dollars} per kilowatt-hour (kWh).

Bitcoin mining: Gryphon Digital and electrical energy at about $0.01 per kWh in Louisiana

Gryphon Digital Mining, a Bitcoin mining firm, has secured a good contract in Louisiana. It’s an settlement for the acquisition of as much as 2.9 megawatts (MW) of bitcoin mining operations, with electrical energy on the very low price of about 0.01 {dollars} per kilowatt-hour (kWh).

“Gryphon acquires vitality extraction operations at very low price at ~0.01 {dollars}/kWh. The highlights are: Very low price of ~ 1 cent per kWh; A pipeline of 500 MW of comparable alternatives recognized; Instantly accretive working exercise that’s already producing money flows.”

This price of electrical energy for Bitcoin mining of $0.1 is among the many lowest globally. Simply think about that on common, the fee is about 0.05 {dollars} per kWh, though some corporations handle to acquire charges as little as 0.03 {dollars}/kWh.

Particularly, the settlement of Gryphon Digital Mining gives for the acquisition of as much as 2.9 megawatts of bitcoin mining operations in Louisiana. 

Not solely, with an funding of 1.5 million {dollars}, Gryphon will buy state-of-the-art mining amenities, full with fuel energy mills and high-performance bitcoin mining machines able to reaching 59 PH/s. 

The administration of the bitcoin mining firm additionally believes that these low-cost vitality belongings can generate about 1 million {dollars} in annual income.

Bitcoin Mining and low-cost electrical energy in Louisiana

Gryphon Digital Mining focuses on environment friendly and low-cost operations, with a eager eye on ESG. 

Concerning the environmental administration of its bitcoin mining exercise, the corporate intends to reuse waste into vitality sources, exploiting combustion fuel, a byproduct of oil extraction, considerably decreasing carbon emissions.

Concerning the brand new advantageous contract in Louisiana, Rob Chang, CEO of Gryphon, commented as follows: 

“We consider that this acquisition of ultra-low-cost vitality is our first step alongside a path of over 500 MW of low-cost vitality era alternatives. The present post-halving world requires bitcoin miners to safe low-cost vitality with a view to thrive in a rising world hashrate atmosphere. With the acquisition of this ~1 cent energy asset and future vitality era belongings with related prices, we consider that Gryphon will strengthen its place as a number one low-cost operator with a aggressive benefit in a key facet of bitcoin mining prices.”

This acquisition of low-cost electrical energy will develop Gryphon’s capabilities within the area of high-performance computing (HPC) and internet hosting providers, additional diversifying its know-how portfolio and operational attain.

The label “Made in USA” on the extracted blocks 

Lately, concerning Bitcoin mining, the corporate Marathon Digital from Las Vegas has made headlines. In its announcement, Marathon said that it desires so as to add the label “Made in USA” to all newly mined blocks. 

It’s exactly a choice that goals to provide a patriotic sense to the exercise of mining bitcoin, a great of an agnostic nature. 

The CEO of Marathon, Fried Thiel, emphasised how the corporate’s dedication to marking BTC blocks with the USA manufacturing stamp, additionally displays the robust presence of the corporate within the crypto sector. 

This announcement comes after the candidate for the US Presidency, Donald Trump, had expressed on Reality Social the will that each one remaining BTC have been successfully “Made in USA”.