
Hearst corporation, a UAE based pioneering company specialized in Blockchain, AI, engineering, and energy, and Gigatons, a technology division of the GIGATONS Group, dedicated to advancing the transition era with innovative solutions, announced a collaboration to launch the largest solar farm in the United Arab Emirates to power cryptocurrency mining.
Largest solar farm in UAE
Hearst Corporation and Gigatons stated that the project will be implemented in the desert of Abu Dhabi, where carbon credits will be converted into digital tokens.
This new project aims to support energy-efficient infrastructure in the UAE while developing the cryptocurrency mining sector in the country.
Loic Ricci, COO of Hearst, stated to Khaleej Times: “What we are doing for UAE is we are finally mixing sustainability and profitability. By mixing our expertise with that of our partner,we can deliver a never-seen-before type of hybrid model where we mix green energy and HPC or blockchain computing.”
According to Bitcoin MENA 2024, the world’s largest and most prominent conference promoting the understanding and adoption of Bitcoin and blockchain technology, cryptocurrency mining consumes approximately 91 terawatt-hours of electricity annually—more than the total electricity usage of many countries worldwide.
Ricci stated that the project is currently in its licensing phase. The solar farm will be located in the desert area of Abu Dhabi and will be large enough to generate the significant amounts of energy required for mining activities.
Source: albawaba