Crypto miners in India install rooftop solar units to cut power costs
POWER & RENEWABLE ENERGY

Crypto miners in India install rooftop solar units to cut power costs

Most of the crypto miners in India are setting up solar rooftop power units and battery backup in their residential facilities to cut expensive power costs.

There are also more enterprising ones who are evaluating cold countries nearby to establish system infrastructure to protect against heat problems and subsequent operating prices. India's mining cryptocurrency has just got smarter.

It is a virtual currency that uses blockchain technology for its existence and secure transactions online. The famous cryptocurrencies are ethereum, bitcoin, lightcoin, and darkcoin, and many more.

Crypto-mining is earning cryptocurrency through solving cryptographic equations utilising high-end computers. The extremely secured problem-solving process consists of verifying data blocks, and these transaction records are joined to a public ledger using blockchain technology. Solving complex mathematical problems in a decentralised environment online guarantees cryptocurrency to users.

Hyderabad-based Ajay K, who was an active stock market trader once, has been in the business of crypto-mining for the past several years. He set up a solar rooftop unit of 5 Kilovolt-amp (kVA) with battery backup a year ago to cut costs on power.

The hardware infrastructure absorbs high power, and it’s the major cost and great difficulty in crypto-mining. On average, the power consumption for crypto-mining could be to the tune of Rs 30,000 to Rs 50,000 per month. While a basic cryptocurrency mining system starts at Rs 50,000, the professional one with a high-end motherboard and eight graphic cards costs about Rs 4,00,000.

Now, the import time for customised motherboards and graphic cards from China and Singapore has been decreased to seven days. The customs clearances are processed immediately. Earlier, the import used to take about a month, said Bhimavaram-based Krishnam Raju who caters to Andhra Pradesh, Telangana, and Tamil Nadu markets.

Image Source

Also read: Maha govt to provide subsidy to residential users for rooftop solar

Most of the crypto miners in India are setting up solar rooftop power units and battery backup in their residential facilities to cut expensive power costs.There are also more enterprising ones who are evaluating cold countries nearby to establish system infrastructure to protect against heat problems and subsequent operating prices. India's mining cryptocurrency has just got smarter. It is a virtual currency that uses blockchain technology for its existence and secure transactions online. The famous cryptocurrencies are ethereum, bitcoin, lightcoin, and darkcoin, and many more. Crypto-mining is earning cryptocurrency through solving cryptographic equations utilising high-end computers. The extremely secured problem-solving process consists of verifying data blocks, and these transaction records are joined to a public ledger using blockchain technology. Solving complex mathematical problems in a decentralised environment online guarantees cryptocurrency to users. Hyderabad-based Ajay K, who was an active stock market trader once, has been in the business of crypto-mining for the past several years. He set up a solar rooftop unit of 5 Kilovolt-amp (kVA) with battery backup a year ago to cut costs on power. The hardware infrastructure absorbs high power, and it’s the major cost and great difficulty in crypto-mining. On average, the power consumption for crypto-mining could be to the tune of Rs 30,000 to Rs 50,000 per month. While a basic cryptocurrency mining system starts at Rs 50,000, the professional one with a high-end motherboard and eight graphic cards costs about Rs 4,00,000. Now, the import time for customised motherboards and graphic cards from China and Singapore has been decreased to seven days. The customs clearances are processed immediately. Earlier, the import used to take about a month, said Bhimavaram-based Krishnam Raju who caters to Andhra Pradesh, Telangana, and Tamil Nadu markets. Image Source Also read: Maha govt to provide subsidy to residential users for rooftop solar

Next Story
Real Estate

Signature Global to Invest Rs.25 Bn in FY25 Housing Projects

Real estate developer Signature Global is set to invest ?25 billion in residential projects for the fiscal year 2024-25. Chairman and Managing Director Pradeep Aggarwal announced this substantial investment, highlighting the company's commitment to expanding its housing portfolio. The funds will be allocated to developing new residential properties, aiming to cater to the increasing demand for affordable housing. Aggarwal stated that the investment will primarily focus on projects in the Delhi-NCR region, a market where the company has established a strong presence. Signature Global plans to l..

Next Story
Infrastructure Urban

Congress Criticises Modi's Policies, Calls MSME Situation Dire

The Congress party has sharply criticised Prime Minister Narendra Modi's policies, accusing them of severely damaging India's Micro, Small, and Medium Enterprises (MSMEs). In a recent statement, Congress spokesperson Gourav Vallabh described the government's actions as a "systematic bludgeoning" of the MSME sector, leading to what he termed an economic catastrophe. Vallabh highlighted several key areas where he believes the government has failed. He pointed to the implementation of the Goods and Services Tax (GST) and demonetization as two major policy missteps that have had long-lasting nega..

Next Story
Infrastructure Urban

Urgo Capital Opens Indore Branch to Support MSMEs

Urgo Capital, a leading financial services provider, has inaugurated a new branch office in Indore, Madhya Pradesh, to bolster its support for Micro, Small, and Medium Enterprises (MSMEs) in the region. This strategic expansion aims to provide enhanced financial solutions and support to the MSME sector, which is crucial for economic growth and employment generation. The new branch will offer a range of financial products tailored to the needs of MSMEs, including business loans, working capital loans, and equipment financing. Urgo Capital's Managing Director, Rajesh Sharma, emphasised the comp..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000

Join us Telegram