I have followed Cryptocurrency for several years now & invested in some small cloud-mining operations in that time with a fair return, it has occurred to me several times that the big drawback is the power consumption of the machinery, which only increases as the machines process faster, this makes small mining operations unprofitable & the machinery virtually useless to the owner, I'm hoping my project will be able to change this with time...
About this project
Firstly the project is to fund the purchase of powerful mining machines, 33TH/s to be exact, four to six machines will be purchased and put into operation, normally these would run off your house or office power, the same will happen here to begin with, my goal is to monitor the machines for the first two months in conjunction with a local solar expert, I will then build the most efficient solar power source for the machines with existing solar products and hopefully take them off grid altogether, of course they will be monitored constantly and data collected on an ongoing basis, my hope is that once enough data has been collected i will be able to approach a large solar manufacturer and develop solar products designed to run mining machinery thus removing the high running cost power wise of the machines and increasing profitability even for the small miner or potentially small communities to even the largest of crypto mining farms, I feel the possibilities may be endless as the R&D going into this project may well have huge benefits in other areas such as rural areas or poor communities...
Rewards on offer
I'm hoping the research and development in this area will have rewarding benefits down the line for people all over the world, this being said i would most definetly be willing to mention, thank, link, partner or advertise on my official site once the project is underway !
At this point it is myself & the owner of a prominent solar solution provider in my area who has asked to remain nameless for now.
Risks and challenges
The risk of course is that a feasible solar solution is not found although I feel this is unlikely & will depend on the amount & quality of data that can be collected to present to a manufacturer, I feel the challenge will mostly lie in the volatility of the cryptocurrency marketplace & the exchange rates of same, another challenge i feel is the potential to damage the machinery in this process which would be a drawback, what the machines mine during this experiment will be put towards more equipment & further research