Solar Alliance Energy has signed a Memorandum of Understanding with NuYen Blockchain, a company focused on the mining of cryptocurrency and the development of blockchain IP, to host cryptocurrency mining equipment at Solar Alliance’s recently acquired 165,000-sq. ft warehouse facility in Murphysboro, Illinois.
Under the terms of the MOU, Solar Alliance will ultimately allocate up to 10 MW of power to NuYen Blockchain. The Murphysboro facility has an initial capacity of 2 MW and the additional power capacity allocated to NuYen Blockchain will be a combination of additional grid connected power and an onsite solar system to be added over time. NuYen Blockchain is also a potential tenant for the initial 2-MW allocation.
“Signing this MOU with NuYen Blockchain supports the business model we have envisioned for the Murphysboro colocation facility and illustrates the long-term potential of this project as a solar-powered cryptocurrency mining center,” said Chairman and CEO Jason Bak. “We are making solid progress as we plan the upgrades for the Murphysboro facility to ensure it will be a world class colocation center that combines low cost grid connected power, renewable solar power and workforce training as part of the Renewing the Murphysboro Community Through Green Energy Jobs Initiative Solar Alliance has undertaken with the City of Murphysboro. Once the facility is operational, we expect to benefit from a recurring revenue stream from cryptocurrency mining tenants.”
Solar Alliance is in discussions with several other potential cryptocurrency mining tenants and expects to announce additional hosting and colocation agreement in the near future.
News item from Solar Alliance