Lancium raises $150 million to expand Bitcoin mining efforts with renewable energy

Houston-primarily based totally tech enterprise Lancium has raised one hundred fifty million to amplify its renewable power-run Bitcoin mining enterprise version throughout Texas. The organization is trying to spend the cash on a Bitcoin mine with a potential of over 2,000 megawatts (MW) in 2022. 

 The investment spherical became led via way of means of smooth power enterprise Hanwha Solutions, alongside different agencies withinside the equal industry. 

 Lancium, which makes a speciality of Bitcoin mining, develops software program with era that eases mining operations` uptime primarily based totally on power expenses and grid load. 

 Some of the not unusual place troubles with renewable power farms consist of charge volatility and uptime inconsistencies, resulting from an imbalance in call for and delivery. 

 Lancium permits Bitcoin miners to plug and unplug their rigs at will relying on the power needs at the grid. 

 West Texas enjoys sun and wind strength in abundance, however such power assets aren't continuous. And growth withinside the call for renewable power stays in trouble of concern, because the grids delivery could be constrained and not able to fulfill the call for. Lancium partnered with the Electric Reliability Council of Texas (ERCOT), a non-earnings enterprise that operates the Texas grid and can pay miners to strengthen it. Its era makes it viable for the power call to be dialed up and down, on the subject of the grids delivery and call for dynamics at any given moment.