A young German-speaking millionaire intends to buy a huge piece of land to install thousands of photovoltaic panels in order to create cryptocurrency.
Bitcoin is going through tough times. At the peak a few months ago, the cryptocurrency has since lost almost 70% of its value. Others, like Ethereum, also crashed. A situation that does not however worry Dadvan Yousuf, an autodidact who made his fortune thanks to this market.
Aware of the ecological impact that virtual currencies have, he thinks he had a bright idea that he relayed on Twitter on Sunday. He plans to buy a large piece of land in Switzerland in order to produce Bitcoins using solar energy. Because the mining of cryptocurrencies is quite energy-intensive, which provokes the ire of environmental defense associations. “I’m under no illusions, just about every statistic shows Bitcoin mining is bad for the environment,” the 21-year-old explains. The plan is to have the largest Bitcoin mining farm in Europe, which will be powered exclusively by renewable energy.”
Currently, some countries no longer tolerate virtual currency at all and others are able to ban mining at any time. Dadvan Yousuf is convinced that in the future, only farms powered by green energy will be allowed to mine Bitcoins by governments. “I don’t expect a ban on this cryptocurrency, but a mining ban on it, also in Switzerland.” By preparing for it, with a farm spanning 12,000 square meters and powered by 7,550 solar panels, he hopes to have “a huge competitive advantage” when the time comes.