Italian investors will create the largest in Chisinau in Moldova, farm for mining

According to representatives of the Italian companies Fly Ren Energy Group and Consulces Tech has invested in the creation of the largest photovoltaic Park with a capacity of 1 MW on an area of 2.5 hectares, owned by one of the institutes of the Academy of Sciences of Moldova, in addition to the main goal of providing Moldova energy from alternative sources, the planned creation of farms for mining cryptocurrency.

«On the basis of this project we plan to develop in Moldova and other areas of interest to us, including those associated with the technology of the blockchain,» said Andrea Tortorella (Andrea Tortorella), a representative of the company Consulces Tech.

He said that in Moldova, including for the examination, which will determine whether it is possible to create on the basis of the largest photovoltaic Park development is the largest in the country farm for the extraction of crypto currencies.

Any details about the project Andrea Tortorella did not provide, however, because of the specificity of the Moldovan energy market, the development of this segment can be blocked.

His interest in the development of such business in Moldova, previously expressed by Russian businessman Igor Chaika, the son of the Prosecutor General of Russia and one of the leaders of the public organization «Business Russia». Chaika still in 2017 have called on Russian investors to perform this area and consider establishing in Transnistria farm for mining.

In the past year, cryptocurrencies have become a very hot topic, as in the financial markets and in terms of the impact on the environment. This is due to the fact that for their production requires huge amounts of energy, which is produced mainly from the combustion of hydrocarbons.

According to experts in the past year, mining major cryptocurrencies took 14.54 TWh (Bitcoin) and 4,69 TWh (Ethereum) of electricity, and this trend is growing rapidly.

Thus, for the extraction of Ethereum cryptocurrency consumed as much electricity as it consumes the whole of Moldova, while mining bitkine takes as much electricity as it consumes Turkmenistan or Syria. In Iceland, farms consume as much energy as half of all houses 340 000 inhabitants of the country. In world scale mining of the farm consume the same amount of energy as Argentina. And yet it is less than 1% of the total world consumption of electricity.

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