In recent mining news, Brookstone Partners has announced its intention to build a 900-megawatt wind farm in Dakhla, Morocco, Hydro-Québec has been given permission to charge cryptocurrency miners increased rates, and DMG has begun installing its 85-megawatt substation in Canada.
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Brookstone Partners Plans 900 MW Wind Farm in Morocco to Power Mining
Brookstone Partners, a New York-based private equity firm, has announced plans to construct 900 megawatt (MW) wind farm near Dakhla – a disputed territory presently administered by Morocco.
Brookstone founded ‘Soluna’ – the site that will house the proposed wind farm – after acquiring rights to the land from Altus AG. The company hopes to raise $100 million USD via initial coin offering to finance the construction of its first 36 MW worth of turbines. The cost of completing the entire project is estimated to run as high as $3 billion.
The managing director of Brookstone, Michael Toporek, stated: “We have exclusive rights to the area for a wind farm, but the issue was there’s no real place to put” the electricity. “These days, what you can do with stranded power is set up a computing center, develop this as an off-grid project,” he added.
Brookstone will use the power it generates to power cryptocurrency mining and data centers.
Hydro-Québec Granted Permission to Charge Increased Rates to Crypto Miners
The fourth largest hydropower producer in the world, Hydro-Québec, has been granted permission to increase the rates charged to cryptocurrency miners by the Régie de l’énergie – the economic regulator of Québec’s energy sector. Hydro-Québec will now be permitted to charge 15 Canadian cents (approximately 11.5 U.S. cents) to cryptocurrency miners – double the rate that is available
