Private Equity Fund To Back Wind Farm To Power Bitcoin Mining Operation And Data Centre
Private equity company Brookstone Partners is reportedly raising funds for the development of a 900-megawatt wind farm in Morocco. The project has been attracting investors for its potential to mine cryptocurrencies and manage data using clean energy, located between the Sahara Desert and Atlantic Ocean.
The cost implications of electricity usage involved with mining is high. Many companies have been forced to look for cheap renewable energy sources due to surges in electricity prices. Due to the electrical demand of mining, companies are not able to use traditional fuels such as coal from fear of creating too large of carbon footprint.
Brookstone has the exclusive rights to build the wind farm in the area but challenges arise with storing the energy. A computer data centre is to be set up to utilise any additional power generated by the farm.
The company wish to raise $100m in an initial coin offering to build the first turbines that will be used to power the crypto-mining and data centre. Completion of the entire project could cost up to as much as $3bn.
Intermittency is a challenge the centre will have to overcome as the machines will need power to function even if the wind doesn’t blow if the farm is off-grid. The Industry’s electricity use had increase rapidly the last year reported consuming up to as much as 60% of mining revenue. More companies are looking towards cheap energy to maximise profits when selling bitcoin or they cash out crypto.
Be sure to visit BC Bitcoin for all your updates on the market and to sell your crypto.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
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For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
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