How Ekogea is Helping to Turn Cow and Poultry Manure into Digital Gold
We’ve been delighted that Ekogea’s Philip Hughes’ award winning AD Plant in Denbighshire hit the news earlier this month. Philip and Josh Riddett of Easy Crypto Hunter are using electricity generated from the AD plant to run a crypto currency mining operation; Ekogea technology has allowed surplus electricity to be generated which can’t be fed into the grid.
What is Cryptocurrency?
Since their creation in the late 2000s, cryptocurrencies have been growing in fame and popularity across the globe. They are a digital currency whose success depends upon blockchain reporting. Blockchain is a catch-all term for a public ledger that contains the information of all previous transactions linked to that currency. Advocates of cryptocurrency expect it be the future of fast, safe, and global transactions.
What is Cryptocurrency Mining?
Cryptocurrency mining is vital to how the system works. The transactions that take place need to be verified and then added to the public ledger. This is the function of Cryptocurrency Mining.
A series of complex algorithms need to be solved, using high tech digital solutions, in order to gain access to the transactions. The first “Miner” to do so can verify them, submit them for verification to a pool of other miners, and then add them to the Cryptocurrency blockchain ledger. For this they get both transaction fees and, often, newly minted cryptocurrency to compensate them for the computational investment to keep the Cryptocurrency Ledger up to date and to secure the network.
Where Does AD Come In?
Today’s cryptocurrency mining hardware has evolved fast. In the early days a standard desktop computer would have sufficed. Today, however, modern mining hardware consists of specialised software and state-of-the-art hardware that can be energy-intensive.
The profitability of the endeavour obviously depends upon the current price of the cryptocurrency, but also keeping the costs of mining as low as possible. Those costs include electric power, cooling, and facility rental. Something that agricultural businesses are perfectly positioned to offer.
Philip’s AD plant, using Ekogea’s proprietary technology, already produces more than enough electricity to power the farm and the adjoining caravan park and meet its permitted FIT allowance. The surplus electricity generated powers onsite “mining rigs”, specialist computers solving the algorithms and contributing to the various crypto-currency ledgers.
The AD plant is set perfectly for converting the raw material, mainly “cow muck” and chicken litter into even more digital gold.