GX Blocks Energy — Sustainable Blockchain Services

Powering Blockchain with Sustainable Energy Sources (Part 2)

Transitioning to a new reality of the Blockchain ecosystem requires solving key issues, especially when the environment and our planet are concerned.

GX Blocks focuses on the sustainable development of modern green energy solutions for the operation of data centers, in order to reduce the carbon emissions from Mining DC’s through Renewable Energy Sources.

The Blockchain & Cryptocurrency Mining industries negatively impact the environment, as the need for excessive amounts of energy consumption increases Data Centers’ carbon footprint globally.

Greece is a well-chosen strategic location to mine cryptocurrencies through the exploitation of renewable energy sources, as mentioned in our previous Medium Article.

Renewable Energy Sources

GX Blocks will use Hydropower as part of its RES Strategy

There is a considerable global energy problem. Taking into account such issues and committing to environmental friendliness, is what gave GX Blocks the impetus to create a diversified strategy based on renewable energy sources.

The GX Blocks strategy includes the construction of exclusive units of Hydroelectric and PV Power Plants. In the long run, we intend to expand to other RES facilities, such as biomass and wind turbines.

GX Blocks will use Solar Energy as part of its RES Strategy

As mentioned in our previous article, the Bitcoin network currently consumes at least 63–70 Terawatts of electricity per year, surpassing the annual consumption of individual countries like Greece (59.3 Terawatts per year), and is expected to increase by more than double in the future.

But there is a way to mitigate this, by using Renewable Energy Sources in the Mining Industry.

GX Blocks offers a competitive solution to the problem of cryptocurrency mining by using clean and cheap energy. Through our own functional energy parks, we have the ability to efficiently use the clean energy produced by directly distributing it to the mining data centers to extract cryptocurrencies and power the blockchain.

Lower Mining Infrastructure Costs

Mobile Mining Units (MMUs) will be located next to energy parks, allowing us to have significant savings on cryptocurrency mining facilities and operating costs.

We can take advantage of the existing corporate quality electrical infrastructure, eliminating the need to create new and separate electrical installations.

Another important advantage is our independence from third-party energy providers. In this way, the mining operations continue to operate normally even after a network malfunction, overload, or failure.

Energy savings are not only good for operating costs, but also for a sustainable approach towards the environment. Less energy consumption requirements globally translate to lower needs for generating electricity, therefore reducing emissions.

Decentralized Cheaper Energy

In this new reality, any intermediary provider ceases to exist and the energy needed for the mining process costs as much as the cost of its production. This suggests that the best possible price is provided regardless of the total energy consumption and without the need to commit through conventional agreements with third-party providers. With immediate consumption, the produced clean energy is directly consumed, saving fees and taxes.

GX Blocks Ecosystem

Liquid Immersion Cooling

Globally, as this industry is constantly evolving and expanding, unregulated servers in data centers generate too much heat during operation. In order to avoid this, GX Blocks Energy has extensively researched and concluded in an innovative cooling process through custom tanks.

GX Blocks Energy will use Liquid Immersion Cooling to improve data centers’ life and performance, reducing energy consumption. Our solution will be able to withstand and operate in adverse conditions. By using Liquid cooling we can save up to 10 times the required space and reduce energy costs by up to 20%.

Many countries around the world face an excessive supply of electricity coming from fossil fuels. Demand is lower than supply creating problems as storage of electricity is difficult and costly, usually resulting in significant energy wastage.

Additionally, the Bitcoin mining process requires a lot of energy and is responsible for a large percentage of CO2 production globally, as excessive amounts of electricity are consumed to solve (consent) algorithms, such as Proof of Work.

Given the above issues, GX Blocks has created a network in which the energy produced by Renewable Sources is consumed directly at mining facilities, making the process more efficient, minimizing energy losses, and reducing carbon dioxide emissions from mining facilities.

‘The flexibility of this structure helps us to fuse two of the most important sectors of the 21st century, Blockchain technology and Renewable Energy Sources.’

Prioritizing the environment, GX Blocks aims to make the Blockchain industry more sustainable, by pursuing this innovative strategy to transform the industry.

Our mailing address: info@gxblocks.net

GX Blocks Energy — Official Website: www.gxblocks.com

Copyright © 2020 GX BLOCKS ENERGY S.A.
All rights reserved.

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