The Swedish crypto industry is now taking an important step towards a greener mining of cryptocurrencies. Through a new agreement with the mining experts Xpecunia, BTCX will be able to offer cryptocurrencies that have been mined using solar energy.
"BTCX is Sweden’s oldest exchange for cryptocurrencies and thanks to a close collaboration with Xpecunia, we can now offer customers guaranteed green crypto assets”, says Pär Helgosson, CEO of Goobit.
By focusing on building on solar power plants in direct connection to the mining premises, Swedish Xpecunia can produce crypto assets without generating direct carbon emissions – and the company already has several plants in Sweden. It is these solar-produced crypto assets that Goobit now will sell on the BTCX platform.
"In the next step, BTCX will introduce a framework and a methodology for certification of crypto mining where the producers need to meet a number of criteria in order to be certified”, says Pär Helgosson.
"It also allows buyers of cryptocurrencies to be sure of its origin.”
The Swedish countryside is excellent for crypto. Sweden’s location is excellent for mining crypto with sun, wind and water, and the new investments are mostly made in rural environments, far from the big cities – and thus contribute to create jobs in the countryside both during construction, but also long-term to maintain facilities. There are great advantages off using the surplus energy in electricity production from solar cells to mine crypto assets.
"The creation of cryptocurrencies has so far been a form of arbitrage of electricity, says Daniel Moström, CEO of Xpecunia. “Now we are changing the equation completely. Xpecunia has a solution which eliminates the environmental problem, lowers electricity costs radically and dramatically increases profitability.”
Work to make crypto mining more eco-friendly is ongoing all over the world. In China authorities cooperate to phase out coal power in crypto mining, and in the US, Elon Musk and the newly started Bitcoin Mining Council is at the forefront working to make renewable energy a basis for production.
“We wanted to buy locally produced goods”, says Christian Ander, founder of BTCX. “Locally produced goods are good at all levels, this also applies to cryptocurrencies, and the advances in solar energy will revolutionize electricity production in crypto mining.”
BTCX will also be able to report how large the share of sales of “green” cryptocurrencies is. The ambition is to transparently report future trends.
Pär Helgosson, CEO Goobit Group AB (publ), telephone: +46 70 978 80 00
About BTCX / Goobit Group
Goobit AB was registered in 2012 and is one of the world’s first and Sweden’s leading crypto exchange company. The company offers exchange services of SEK and EUR to the digital currencies’ Bitcoin and Ether and has so far exchanged over 1.7 billion SEK. The company’s most famous brands are BTCX Express and Standard BTCX. Goobit Group AB (publ) was registered in 2013 and is a group with operations in the wholly owned subsidiaries Goobit AB, Goobit Blocktech AB and Goobit Exchange AB. Goobit AB offers services for retail and corporate customers aswell as financial institutions.
For more information, see Goobit’s website www.goobit.se
Xpecunia extracts cruptocurrencies using self-produced solar energy. The extraction is continuously adapted with the support of a self-learning model to the volatile and rapidly changing development of cryptocurrencies to optimize the extraction and create the best possible return. Through proven profitability after three years of operation, Xpecunia aims to scale up the existing operations, to establish a new business area and generate increased margins with lower climate impact.
For more information, see Xpecunia’s website www.xpecunia.se