Bitcoin mining firm Solteir announced its new renewable energy mining partnership with OPTEC International. The collaboration will leverage OPTEC's solar-paneled generators to mine bitcoin at Solteir's mining facility in Bradford County, Pennsylvania.
"We are very excited to be announcing our pilot solar partnership with OPTEC International," commented Jesse Fastenberg, Solteir cofounder. "At this year's annual Mining Disrupt Conference in Miami, there were so many conversations about mining with cleaner renewable energy and our responsibility to do so for the betterment of society. We look forward to a long term and successful solar powered Bitcoin mining partnership with OPTEC."
The new operations are expected to be up and running by the Fall of 2021. After the inaugural move, Solteir and OPTEC expect to move mining operations into one of OPTEC's own facilities, where it plans to scale the operations.
Solteir is a data center provider specifically geared for bitcoin mining. The firm provides a complete lifecycle hosting of ASIC rigs along with a managed hosting solution for miners.
OPTEC is a California-based developer and manufacturer of electronic LED, solar-powered off-grid led lighting, and power generation equipment.
Bitcoin's energy consumption has become a hot topic lately, with the common misconception that it is detrimental for the planet. Consequently, a wave of "green" partnerships like this has been spurred over the past few months.
But the way Bitcoin can contribute to the environment, and the planet at large extend far beyond green mining. In a white paper released in April, Square outlined the opportunity that Bitcoin represents to facilitate the transition to a cleaner and more resilient electricity grid by serving as a complementary technology for energy production and storage.
Furthermore, Bitcoin can also help energy companies increase their profit margins, leverage stranded energy, and capture pollutant waste while contributing to the best monetary network in the world.