Two US technology companies, Block and Blockstream, are preparing to launch a fully solar-powered Bitcoin creation centre, or mine, in June, in an effort to make cryptocurrencies less expensive and more environmentally friendly.
The digital payments group Block, formerly called Square, and blockchain specialist Blockstream have each invested $6 million in the pilot project which should initially produce about 0.1 Bitcoin a day, Blockstream chief executive Adam Back told AFP.
Blockstream announced the centre would be located in West Texas and equipped with Tesla solar panels and batteries.
“A lot of people have talked about the theory, and we thought we would try it in practice, so that we have actual data that people can look at and quote and cite,” Mr Back said.
More than simply creating Bitcoins, “the goal is to prove that 'mining' can help finance infrastructure” for renewable energy, he said.
The logic, according to Mr Back, is that the Bitcoin creation centre can only use excess capacity from facilities that generate renewable energy, with the bulk of the electricity going to home and business consumption.
Mining Bitcoin requires a series of complex computer calculations, requiring an ever-increasing amount of electricity.
Mr Back said the two project partners are thinking of increasing the size of the project by up to 100 times on the same site if the test proves conclusive.
It is not the first cryptocurrency project to rely entirely on renewable energy.
In El Salvador, where Bitcoin is an official currency, mining takes place at a geothermal power plant using the energy from surrounding volcanoes.
Criticised for its huge consumption of electricity, the cryptocurrency sector has hosted the birth of several initiatives in recent years to achieve a more ecology-friendly model.
Last year, dozens of companies united as the Crypto Climate Accord and pledged to achieve carbon neutrality by 2030.
Who is Allegra Stratton?
- Previously worked at The Guardian, BBC’s Newsnight programme and ITV News
- Took up a public relations role for Chancellor Rishi Sunak in April 2020
- In October 2020 she was hired to lead No 10’s planned daily televised press briefings
- The idea was later scrapped and she was appointed spokeswoman for Cop26
- Ms Stratton, 41, is married to James Forsyth, the political editor of The Spectator
- She has strong connections to the Conservative establishment
- Mr Sunak served as best man at her 2011 wedding to Mr Forsyth
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Toss: Kerala Knights, opted to fielf
Pakhtoons 109-5 (10 ov)
Fletcher 32; Lamichhane 3-17
Kerala Knights 110-2 (7.5 ov)
Morgan 46 not out, Stirling 40
Who is Mohammed Al Halbousi?
The new speaker of Iraq’s parliament Mohammed Al Halbousi is the youngest person ever to serve in the role.
The 37-year-old was born in Al Garmah in Anbar and studied civil engineering in Baghdad before going into business. His development company Al Hadeed undertook reconstruction contracts rebuilding parts of Fallujah’s infrastructure.
He entered parliament in 2014 and served as a member of the human rights and finance committees until 2017. In August last year he was appointed governor of Anbar, a role in which he has struggled to secure funding to provide services in the war-damaged province and to secure the withdrawal of Shia militias. He relinquished the post when he was sworn in as a member of parliament on September 3.
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He maintains good relations with former Prime Minister Nouri Al Maliki’s State of Law Coaliton, Hadi Al Amiri’s Badr Organisation and Iranian officials.
Abu Dhabi traffic facts
Drivers in Abu Dhabi spend 10 per cent longer in congested conditions than they would on a free-flowing road
The highest volume of traffic on the roads is found between 7am and 8am on a Sunday.
Travelling before 7am on a Sunday could save up to four hours per year on a 30-minute commute.
The day was the least congestion in Abu Dhabi in 2019 was Tuesday, August 13.
The highest levels of traffic were found on Sunday, November 10.
Drivers in Abu Dhabi lost 41 hours spent in traffic jams in rush hour during 2019
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Top 10 locations for inquiries from US house hunters, according to Rightmove
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Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
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