Swiss Alps Energy is a startup company based in Switzerland, specializing in the mining & energy sector. It is reportedly setting up a hydropower plant to do Bitcoin mining in the energy-rich country. They are also in the process of launching an ICO for the initial finance required for the mining activity.
Swiss Alps Energy
Swiss Alps Energy (SAE) is a distributed energy supplier and is also involved in providing mining infrastructure. It’s involved in environment-friendly mining activity using hydro and solar power plants. Their environment-friendly mining is achieved through the set up of a data center in the unused buildings in the Swiss Alps. Swiss Alps are made up of thousands of unused structures and government does not let people to use them for residential purpose. Swiss Alps wants to make use of these places by converting them to environmentally-friendly mining facilities powered by renewable energy only.
The Swiss Alps Energy team consists of members coming from the field of blockchain technology, cryptocurrency mining, developers, and various other specialists. This wide range of intelligent members will help set up the mining facility to add more hashpower to Bitcoin and other cryptocurrencies. Swiss Alps Energy uses renewable energy only, so the mining activity related to their efforts would not affect the environment. The company has many hydroelectric power plants and also has long-term contracts with energy providers to run the miners. They have plans to start mining facilities in different places in Switzerland to take advantage of the favorable climatic condition of the country, while minimizing the energy consumption.
Objectives of Swiss Alps Energy
The company will not only will be providing the energy and the infrastructure for mining, but has a wider objectives to serve the energy-intensive cryptocurrency space and also for the economy of the country. Below are some of their objectives:
- Promote blockchain technology, and its uses cases to the general public
- Address environmental issues arising out of mining by using only renewable sources of energy.
- Provide energy to third parties using distributed ledger technology.
- Support the economy in the Swiss alpine areas.
- Provide the third-party vendors with a decentralized infrastructure to develop their blockchain project.
Swiss Alps ICO
Swiss Alps Energy will hold an ICO in 2018. The company plans to use the funds to finance the expansion of mining facilities and also to acquire more hydroelectric power plants. They plan to raise the capital via an ICO to set up the corporate structure. The total number of ASIC miners that would be deployed will be decided based on the funds raised by the ICO. The ICO also helps in expanding the team necessary for production and maintenance of the SAE “cubes”.
SAE cubes are nothing but a system that helps to build and implement prefabricated dust resistant mining components. The company will rent out the cubes or only the mining capacities from SEA cubes. They also guarantee high energy efficient and cost competitive mining. The SAE will have its token called SAM token. The individuals and organizations that want to rent mining facilities will pay the power charges in the form of SAM tokens.
The Advantage of Mining in Switzerland
Switzerland is a safe country with high environmental standards. It is becoming the center of blockchain technology in Europe because of the government encouraging the adoption and development blockchain technology and has a favorable regulatory environment for cryptocurrencies. The other advantage of setting up the mining facilities here is the abundance of renewable energy and this energy can also be sold abroad. This is the reason for Switzerland to be a good place for setting up mining farms. A lot of hydropower plants are available and the excessive energy produced can be used for mining cryptocurrencies.
The most important advantage is that the country becomes very cold during winter and so the mining facilities that generate a lot of heat will not require any cooling equipment. Instead, it will get cooled down naturally because of the cold conditions prevailing in Swiss Alps.
DISCLAIMER: This article is not meant to encourage investment in any sector or company products. It is only meant for informational purposes and to spread more awareness about blockchain technology and cryptocurrencies.