William Shatner, a well respected Canadian actor, author, producer, and director has released an ambitious plan to operate a bitcoin mining farm in Southern Illinois that is powered entirely by solar power.
Plan to Have the Edge over Other Mining Centers
In an interview with Chicago Tribune, Shatner explained that he has recently started to understand the concept of the blockchain and the potential of cryptocurrencies such as Bitcoin and Ethereum in the global finance sector as well as their applicability in a variety of industries including technology, healthcare, insurance and more.
“The concept is so, I guess the word is bizarre. You have to blank your mind and say, ‘What is blockchain, again? How does mining operate, again?’ The concepts are bizarre, and yet when you begin to grasp it, it makes sense,” Shatner explained.
Already, in collaboration with Solar Alliance and its CEO Jason Bank, Shatner and the rest of the Solar Alliance team have started to work with local regulators to obtain a deal that would allow the company to purchase solar energy at substantially cheaper rates.
Mostly, the vision of Shatner and Bank is to compete with important cryptocurrency mining centers and upcoming mining companies by reducing the cost of electricity involved in mining cryptocurrencies such as bitcoin.
Throughout the past 12 months, several states and cities have banned cryptocurrency mining due to its excessive consumption of energy and its impact on towns that provide electricity primarily to households. In March 2018, for instance, a small lakeside town in upstate New York called Plattsburgh established a memorandum to ban Bitcoin mining for a year and a half, fed up by mining centers that take advantage of its cheap renewable energy.
“It is the purpose of this Local Law to facilitate the adoption of land use and zoning and municipal lighting department regulations to protect and enhance the City’s natural, historical, cultural and electrical resources,” the Plattsburgh authorities said.
But, regulation on the cryptocurrency sector varies depending on the preference of regional governments. The state of Illinois and its local financial authorities are optimistic in the long-term potential of cryptocurrencies and are in support of related mining businesses.
Cryptocurrency Mining Center Supported by Illinois
According to Bak, Will Stephens, the mayor of Murphysboro, offered to give a 165,000 square-foot factory that has not been used since 2004 to the mining business so that it can begin the process of establishing its mining center and using solar energy to power the facility.
If Shatner’s mining venture does manage to run a sustainable Bitcoin mining center entirely powered by solar energy, it will improve the image of the state of Illinois as one of the technology capitals of the US.
Many states and regional governments have also recently started to focus on the development of innovative methods to use renewable sources of energy to power both households and commercial properties. As such, the usage of solar power to support one of the most energy-demanding businesses in the world would be beneficial for Illinois.
Stephens emphasized local authorities are not concerned about the risky aspect of the mining business because either way, it will ultimately be a win for the state of Illinois. Two possible outcomes could emerge; the project could succeed and demonstrate the possibility of using solar power in an energy-demanding venture or the project could fail and would make the property even more marketable than before.
The mayor concluded:
“From my perspective, we’re going to have someone who will occupy a previously derelict property, and whatever development comes out of it will just make it more marketable if the project is not successful.”