Genesis Mining Announces Pilot Project to Recycle Crypto Mining Farm Energy Waste Into Energy for Greenhouses

BODEN, Sweden, Dec. 15, 2020 /PRNewswire/ -- Genesis Mining, the world's leading institutional crypto mining company, has announced the launch of a new pilot project that will focus on recycling excess energy waste from crypto mining facilities into sustainable heat and energy to power greenhouses. 

The pilot project's objective is to address concerns about the excess energy waste generated by crypto mining facilities while also supporting the government's objective to become more self-sufficient in food production, rather than relying on imports. 

Commenting on this potential, Mattias Vesterlund, Senior Researcher at RISE (Research Institutes of Sweden), said, "A 1 MW data center would have the ability to strengthen the local self-sufficiency up to 8% with products that are competitive on the market." 

The project is a private-public partnership between Systemair, Lulea Technical University, RISE (Research Institutes of Sweden), Boden Business Agency, the local Boden municipality, and Genesis Mining's philanthropic arm, Hashpower For Science. It's located in Boden, Sweden, and has been in development for over one year.  

Boden Business Agency's Nils Lindh, said, "This project is exciting because there is an opportunity to contribute in scaling up the food industry and at the same time meet the national energy efficiency targets. It's the first of many projects within the Energy Symbiosis, and hopefully the results will show that it's very possible to scale up into large commercial production." 

For the initial pilot project, one of Genesis Mining's custom-built crypto mining storage containers will be placed near the greenhouse. The greenhouse and container are connected via a custom-built air duct system that carries the excess energy directly from the crypto mining storage container into the greenhouse. 

Andreas Johansson, a Senior Lecturer from Lulea Technical University, who is making the calculations for designing the system for air flow from the datacenter to the greenhouse, said, "For the cold climate in the north of Sweden, our calculations show that a 300 m² greenhouse can easily be heated with a 550 kW container, even with outdoor temperatures reaching almost -30℃. But the potential is much bigger than that. The temperature difference over the greenhouse is in this calculation only 10 degrees since we assume a DC output temp of 35℃ and a GH temp of 25℃. If the DC output is increased to 55℃, then the GH area can be tripled to 900 m²."  

Genesis Mining's CEO and co-founder Marco Streng said, "Crypto mining is the backbone that makes decentralized cryptocurrencies and applications possible, and we strongly believe the benefits of this decentralization will transform the world, but all those benefits can't come at the cost of the environment." 

As one of the world's largest crypto mining companies with over a dozen datacenters spread across the globe, Genesis Mining's R&D team has been actively working on different solutions and collaborations to enable more sustainable crypto mining facilities. 

"Genesis Mining has always preferred locations that offered 100% renewable energy sources, that's why we've focused so much on the Nordics. But as the industry leader, we view it as our moral and ethical responsibility to push the industry forward and finding a way to convert our excess energy has been a major priority. We look forward to scaling this project and bringing it to not only more of our own datacenters — but to others as well." 

For project photos, partner interviews, and to watch a webinar on this project, click HERE. 

Media contact: [email protected]  

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SOURCE Genesis Mining