Crypto mining consumes a lot of electricity, as per a past report Bitcoin mining consumes about 91 terawatt hours of electricity annually. That’s more annual electricity use than all of Finland, which is a country of 5.5 million people. That’s almost 0.5% of all electricity consumption worldwide. Solarblox intends to cut down the adverse environmental impact of the Mining process, by using renewable energy sources.
Solarblox contracted with Ruskin Felix Consulting LLC to prepare a feasibility study which propagates the idea of lowering the mining impact usage and mine efficiently. The feasibility study presents the assessment of traditional, hybrid and solar power usage, profitability, cost assessment and market assessment for mining the cryptocurrency.
After our market research and intelligence gathering, we were able to demonstrate that there would be a significant positive impact if the mining operations were to be taken place through use of solar energy to power the mining facility. NPV methodology was utilized to assess the financial viability of the project. Our assessment showcased that use of Solar Energy would generate higher profits in the long run, as compared to the use of electricity from traditional power distribution centers. To incentivize the use of this facility, a reward system was designed by RFC in the form of Crypto tokens.
Moving forward, RFC created a road map for SolarBlox, where all the primary milestones like the finalization of construction plans, permits for the pilot facility, and an expansion plan were put forward in a realistic and sustainable manner. Upon successful initiation of the operations, RFC also provided a plan to rapidly expand capacity through additional solar farms and a platform allowing smaller miners to participate. With a first-mover advantage and a strong value proposition, RFC’s analysis indicated SolarBlox could capture a significant percentage of the global hosted mining market within 3 years.
After the completion of our feasibility report, we facilitated in creation of an exclusive pitch deck for Solarblox which helped them to evidently raise capital to fulfil their vision of reaching their desired goal.RFC was clear that the status quo in the crypto-mining industry is unsustainable from both an environmental, regulatory and financial standpoint. RFC formulated strategies for tapping the huge market opportunity which exists that can reduce crypto-mining’s carbon footprint by leveraging cleaner, renewable energy sources. Our team at RFC firmly believes in conducting operations in an environmentally sustainable manner without compromising on financial viability. Thus, the strategies that we propose for our clients reflect the same philosophy to build environmentally sustainable and profitable businesses.
