The Berlin Green Mining DAO mines Bitcoin in Paraguay – significantly cheaper than the global average and with 100 percent renewable energies. Even the resulting heat is reused in an energy-efficient manner. The start-up is now approaching its first round of financing.
• Green Mining DAO mines cheap and environmentally friendly BTC
• The startup plans to expand soon
• A financing round for this is to take place in the near future
According to the Cambridge Bitcoin Electricity Consumption Index, bitcoin mining consumes more energy per year than all of Ukraine. The Green Mining DAO writes on its website that this energy requirement is usually only covered to 25 to 39 percent by renewable energies. The startup wants to change that – and seems to be on the right track.
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Green Mining DAO runs on 100 percent water
The Green Mining DAO was founded in early 2022 in Berlin by Sascha Grumbach, Valentine Pleser and their team. A year and a half later, the Green Mining DAO has more than 20 members and operates its own BTC mining facility in the Asunción region of Paraguay. According to the start-up on the company website, the system is operated 100 percent with water energy. The heat produced during mining is used to dry fruit and grow algae. In addition, the system should be particularly quiet: “Even the birds in the trees are louder,” Pleser told BTC-ECHO.
On its website, the Green Mining DAO advertises environmental friendliness, expertise, security, particularly advanced technology – and with exceptionally low costs: the production of a BTC cost just 15,214 US dollars in 2022, which was 36 percent below the global average price.
Compared to BTC-ECHO, Grumbach praises his company in particular with the aspect of environmental friendliness: “Mining can be sustainable. And even make the entry into renewable energies less risky.”
Entry into the Green Mining DAO will soon be cheaper
With the Green Mining DAO, mining is only carried out when the environment requires less electricity than is available – in times of high demand, the system remains switched off. This is to ensure that no electricity is wasted. With this, the Green Mining DAO wants to contribute to the energy transition.
In addition, the Berlin startup wants to decentralize mining and make it more easily accessible for private individuals again. Each shareholder, regardless of the size of his shares, gets one vote for voting among the members of the DAO, the final decision is made by the supervisory board. “With the Green Mining DAO, retail investors can buy shares in a decentralized entity that operates Bitcoin mining – from completely renewable energy,” says a blog post on the startup’s website.
It’s still quite expensive: Entry into the DAO has cost at least 25,000 Swiss francs so far. According to information from BTC-ECHO, this should change after an imminent round of financing – then the high entrance fee should be reduced to 100 euros and the system expanded.
Olga Rogler / Editor finanzen.net