Launching today with an Initial Coin Offering (ICO), the MoonLite Project is a facility to mine cryptocurrencies at an industrial level. The twist is that it aims to do so without inflicting any environmental damage on the planet: the facility will be powered by 100% renewable energy.
It can do this because of its location. Land will be broken in Iceland on 2 April this year, and the plan is for the operation to be powered exclusively by geothermal, hydro and wind sources, with the first coin mined in August.
Coming in at roughly 4.4 cents per KWh, the green energy available in Iceland is competitive with Qatar – the cheapest they could find in the world.