The Hunter Valley region of New South Wales is where wine is buried in culture, and now a cryptocurrency can become a mining center.
The Australian Hunter Energy and the public IOT Group have signed a partnership to develop a supply chain center in the Redbank utility, located outside Sydney for a few hours and working to recapture Hunter.
The IOT Group has been given the go-ahead to form a 2-hectare Block Chain Application Complex (BAC), located behind a power grid and directly connected to a power plant. Decentralized third-party providers break down delivery and linkage services at the retail level. As a result, LAC tenants would see that the energy bill has been significantly reduced compared to the amounts paid by households and other businesses.
According to the IOT, “the average consumer costs about 28 cents per kilowatt hour, what you did before is [price] 8 cents and it will be 5 cents a night”.
The plant was designed as a coal-fired power plant with a capacity of 150 megawatts at the turn of the century, but has not been in operation for four years. Reports indicate that Hunter wants to switch to solar energy. Reports also suggest that BAC energy consumption could be between 10mW and 20Wm.
“The Australian Silicon Valley”
As a result, the Hunter Valley report states that Hunter Valley could become “a new Silicon Valley for Australia” of the IOT Group, which transfers the region at attractive rates.
Given the proximity of the BAC to the electricity grid, blockchain operators can obtain energy at wholesale prices. This is the opposite in a world where power tools want to set higher rates on anything related to cryptocurrency or blockchain extraction.
Given the high energy consumption required to run the computer servers needed to produce more coins, this sounds like a bitcoin miner’s dream. However, Blockchain applications are growing in the public and private sectors, as Business Insider points out, which may encourage organizations working with blockages of all kinds to build a store for a low-cost competitor such as Iceland.
The IOT is the first project in the blockchain strategy and told them that it gives them the opportunity to dive deeper into the Internet of Things. IOT accepted the following –