Here at solar moon we believe that blockchains like Bitcoin and Ethereum can be mined using a clean energy source with an organizational focus on helping achieve net zero carbon emissions by 2030. We believe that solar power is the simplest, cheapest, and most forward-thinking approach to reach that goal, and we plan to fundamentally change the way the vast majority of crypto currencies are currently mined.

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How does Mining work?

Mining is the process by which new tokens are entered into circulation on the blockchain. These tokens are rewarded to the owners of complex computing systems that solve unique mathematical equations in order to keep track of blockchain transactions. Essentially, people who pay to build these computing systems (miners) are paid in the form of crypto from the blockchains they help support.

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So What is the Problem?

The bad part is that blockchains require quite a bit of electricity. The Bitcoin network alone consumes 120,000,000 Kwh per second or 63 Twh per year! To put that in perspective, the average home uses only 9,000 kwh per year. That is enough energy to power 7,000,000 households. At present the amount of energy used for mining creates a carbon footprint of 48,461,538 pounds of carbon annually. We can't be too upset with Elon over his concern in this matter since our current model is surely unsustainable. Not to mention the $7.5 Billion in electricity that it costs with conventional power sources (based on the US average of 12 cents/Kwh).

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The Solution

It isn't much of a secret that creating energy grids powered by renewable resources is the future of electricity. Many countries around the world, including the U.S. are taking the initiative to put more clean energy on their utility grids. In some areas in America, a solar system can be more than compensated for from incentives created by the state and federal government. This allows communities to produce their own energy for free (after rebates) while also making a profit on a solar mining rig.