Moneyweb Crypto
Going gridless bitcoin mining in Africa
Jul 26, 2023
Erik Hersman, co-founder of Gridless Mining, discusses using spare power from independent power producers in Africa for bitcoin mining. They explore negotiating power prices with independent power producers and highlight the challenges and opportunities of using solar installations for mining in South Africa. They also discuss community involvement, expansion plans, and their interest in exploring opportunities in South Africa.
24:38
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Quick takeaways
- Gridless mining utilizes spare power from independent power producers in Africa to set up bitcoin mines, bringing economic opportunities to excluded communities.
- Gridless mining adopts a revenue sharing model with power producers, aligning incentives for mutual benefits and risk sharing.
Deep dives
The Concept of Gridless Mining in Rural Africa
Gridless mining is a concept that aims to bring affordable energy to rural communities in Africa through the use of microgrids. This initiative, which started in Kenya and now operates in Kenya and Malawi, partners with independent power producers who have excess energy during off-peak hours. By utilizing Bitcoin mining, which can be geographically agnostic, gridless mining helps stabilize the grid and generate revenue for these microgrids. Additionally, this initiative brings economic opportunities to communities that are often excluded from mainstream economic activity.
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