Sazmining launches carbon-free bitcoin mining in Arctic Circle, Oct 2024
- The data center, scheduled to open in December 2024, is powered by hydropower and will replace oil-based heating systems.
- Waste heat from mining will be used to support local industries and reduce energy costs.
- The initiative signifies a potential collaboration between Bitcoin mining and sustainability, benefiting both miners and the local community.
In December 2024, Sazmining is set to launch a groundbreaking hydropower-based Bitcoin mining data center located in Norway's Arctic Circle. This facility aims to replace oil heating systems, resulting in significantly lowered operational costs while achieving 95% rig efficiency. The center will pioneer hydro-based mining technology, allowing retail clients access to sustainable practices essential for the future of Bitcoin mining. The initiative aligns with Norway's commitment to eco-friendliness, highlighting the possibility of sustainable heating and Bitcoin mining coexisting. By repurposing waste heat generated from the mining process, the project seeks to replace an oil-fired boiler, providing heat for local industries such as traditional cod drying. This innovation not only decreases energy demands and costs for local businesses but also provides tangible ecological benefits. The expected outcome is a stronger relationship between Bitcoin mining and sustainable energy solutions within the community. Kent Halliburton, the CEO and Co-Founder of Sazmining, emphasizes the project’s dual advantages, describing it as a 'win-win' situation for both the miners and the local community. His statement reflects the organization's commitment to delivering clean energy solutions while supporting local economic growth. In a region known for its rich wildlife, including polar bears, Sazmining’s choice of location aims to set a precedent in demonstrating that high-tech industries can implement environmentally friendly practices.