Robert Steinadler, 2 months ago

Congo: How Bitcoin mining saved a national park

We already featured how Bitcoin mining advances rural regions in Africa last month. But not only decentralized energy grids can refinance themselves through a little bit of hash power. While environmentalists are waging war against the mother of cryptocurrencies, there is a place that appears  to be saved by digital gold.

How is Bitcoin helping a community to improve wildlife and life in tune with mother nature?

Hydropower is saving the day once again

According to the MIT Technology Review, the Virunga national park first made contact with Bitcoin in 2019, when looking for a substitute for additional revenue. When Corona broke out and the world went on lockdown one year later, Bitcoin mining was the only income stream the park and its community had.

During the bull market in 2021, the park made vast profits that even exceeded the revenue that was generated with tourism regularly. Even in the following bear market, mining sustained a yearly income of $500,000.

The power is generated using rivers as natural resources that produce energy that can only be used locally and would otherwise be wasted. Sustainability is key and no dams or reservoirs are being built. Only the river flow is used for production.

Bitcoin might be a solution to many problems

The fact that cheap and renewable energy is available in different parts of Africa, drives the hope that Bitcoin mining could sustain other projects and communities on the continent. While hydropower is only available in certain regions, solar energy is even more abundant in Africa due to its proximity to the equator.

Of course, all these things need to be financed including the mining equipment. But as Virunga shows, there is a way to make that happen and use Bitcoin for the greater good.

Many companies and blockchain projects are already targeting Africa and trying to improve the situation in many developing countries with new technologies. It remains to be seen if these endeavors turn out to be fruitful. With Bitcoin mining offering a highly attractive incentive, it has a good chance to become more important to many different regions.

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