By Sandra Quinn
“Crypto Valley” Zug, Switzerland – Jan/9/2018 – Horizon Globex have just gone public with the news that they have deployed their first 10kWp solar-powered Ethereum mine producing 30 Ether per annum.
The need for this arose from a current cryptocurrency stumbling block, which many people are encountering with the current model for Proof-of-Work in the blockchain world.
This is the massive amount of electricity required for “mining” cryptocurrencies.
Future projects around Proof-of-Stake mining will help to mitigate increasing power requirements, however, today many cryptocurrencies such as Bitcoin and Ethereum continue to run on power-hungry Proof-of-Work mining.
“Here at Horizon Globex, we recognize the importance of blockchain services in all of our futures and we are working towards solutions and easier ways to use it every single day.
“That is why our seasoned Research and Development teams are focused on delivering innovative solutions on the blockchain, particularly leveraging Ethereum’s ‘smart contracts’,” speaking on behalf of the company Dr. Andrew Le Gear, the Chief Technical Officer (CTO) for Horizon Globex said.
So, how do you balance the quest to deliver smart contracts with the need to protect the climate and environment?
“The answer, for us, is to use solar power to supply our Ethereum fuel, called Gas, that gets consumed by our apps.
“Since Horizon Globex is now going to be a consumer of blockchain power then why not produce this energy for ourselves in a Carbon Neutral way?
“Not only will our solar-powered Ethereum mines be environmentally friendly, but they will also be profitable, especially given the surge in the value of the Ethereum cryptocurrency.
“On December 21, 2017, as many people had clocked off for the festive season, we were still working hard on this and we completed our first solar-powered Ethereum mine ahead of schedule,” Dr. Le Gear added.
He expanded on the point, saying; “We have now built thirty-six 470W PV solar panels, which is enough to power seventy-two mining Graphics Processing Units (GPU).
“We predict with confidence and stand over the prediction that our first Carbon Neutral cryptocurrency mine will generate 30 Ether per annum using our new Windows 10 optimized mining application (assuming a 1,900TH average difficulty).
“More on our awesome 32MH/s per 100W Ethereum mining software in later interviews and articles,” he concluded.
It took just five days to physically install and configure the solar panels and they measure in 18m long and 2m high.
For Horizon Globex, the evolution has started, Horizon Globex is now a Carbon Neutral Blockchain participant. Welcome to the exciting world of ethical Ethereum cryptocurrency.
Investor Relations
A Crypto Valley (aka Zug, Switzerland) blockchain software business with 20 years’ experience in licensing commercial software and one that consistently delivers over one million dollars ($1m) in annual revenues for over 10 years. Purchased from a Nasdaq-listed company in August 2017 for two million dollars ($2m) by the founder, Brian Collins, and now operating with a dedicated team of eleven blockchain software developers. http://ir.horizon-globex.com/
Horizon Globex publishes a weekly blog over on www.horizon-globex.com/blog/ written by professional journalist Sandra Quinn and there will be an upcoming blog on our blockchain app software in a later post, so do keep posted or sign up for our email mailing list, by emailing the word “Follow” to sandra.quinn@horizon-globex.ie.